Penske Automotive Group (NYSE:PAG) released its quarterly earnings results on Thursday. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01, Bloomberg Earnings reports. Penske Automotive Group had a net margin of 1.75% and a return on equity of 18.68%. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year.
Penske Automotive Group (NYSE PAG) traded up $0.95 on Thursday, hitting $49.69. 274,260 shares of the company were exchanged, compared to its average volume of 540,938. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.23 and a current ratio of 1.04. The company has a market capitalization of $4,193.20, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46. Penske Automotive Group has a twelve month low of $38.33 and a twelve month high of $54.83.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.74%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, February 9th. Penske Automotive Group’s payout ratio is 30.99%.
Penske Automotive Group announced that its board has authorized a share buyback program on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related 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 transaction of $323,400.00. Following the completion of the sale, the chief financial officer now directly owns 24,844 shares of the company’s stock, valued at $1,147,792.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 40.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Penske Automotive Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 2,783,279 shares of the company’s stock worth $122,214,000 after acquiring an additional 51,334 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in Penske Automotive Group by 2.7% during the third quarter. Burgundy Asset Management Ltd. now owns 2,134,504 shares of the company’s stock worth $101,538,000 after purchasing an additional 56,240 shares during the last quarter. Fiduciary Management Inc. WI boosted its holdings in Penske Automotive Group by 26.9% during the third quarter. Fiduciary Management Inc. WI now owns 1,849,553 shares of the company’s stock worth $87,983,000 after purchasing an additional 391,808 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Penske Automotive Group by 81.6% during the fourth quarter. Deprince Race & Zollo Inc. now owns 681,008 shares of the company’s stock worth $32,586,000 after purchasing an additional 305,934 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Penske Automotive Group by 12.6% during the fourth quarter. Victory Capital Management Inc. now owns 637,110 shares of the company’s stock worth $30,486,000 after purchasing an additional 71,330 shares during the last quarter. 41.52% of the stock is owned by institutional investors and hedge funds.
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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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