Wall Street analysts expect that Penske Automotive Group, Inc. (NYSE:PAG) will post $5.24 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Penske Automotive Group’s earnings. The lowest sales estimate is $5.20 billion and the highest is $5.28 billion. Penske Automotive Group posted sales of $4.89 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.2%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 6th.
On average, analysts expect that Penske Automotive Group will report full-year sales of $5.24 billion for the current year, with estimates ranging from $21.10 billion to $21.35 billion. For the next year, analysts forecast that the firm will report sales of $21.47 billion per share, with estimates ranging from $21.20 billion to $21.89 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Penske Automotive Group.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. Penske Automotive Group had a net margin of 1.75% and a return on equity of 18.68%. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year.
In other news, CFO John D. Jr. Carlson sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $46.20, for a total value of $323,400.00. Following the completion of the transaction, the chief financial officer now owns 24,844 shares of the company’s stock, valued at $1,147,792.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Shane M. Spradlin sold 3,188 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $47.41, for a total transaction of $151,143.08. The disclosure for this sale can be found here. Insiders own 40.70% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in Penske Automotive Group by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock worth $110,000 after purchasing an additional 175 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Penske Automotive Group during the fourth quarter worth approximately $129,000. Commonwealth Equity Services Inc acquired a new position in Penske Automotive Group during the third quarter worth approximately $199,000. Jane Street Group LLC acquired a new position in Penske Automotive Group during the third quarter worth approximately $201,000. Finally, Stephens Inc. AR acquired a new position in Penske Automotive Group during the third quarter worth approximately $230,000. 41.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Penske Automotive Group (NYSE PAG) traded down $0.83 during midday trading on Tuesday, hitting $52.97. 111,226 shares of the company’s stock traded hands, compared to its average volume of 529,014. Penske Automotive Group has a 12 month low of $38.33 and a 12 month high of $55.26. The stock has a market capitalization of $4,550.00, a P/E ratio of 12.40, a PEG ratio of 1.55 and a beta of 1.46. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.03.
Penske Automotive Group declared that its board has authorized a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.
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