KeyCorp Weighs in on Penske Automotive Group, Inc.’s Q1 2018 Earnings (PAG)

Penske Automotive Group, Inc. (NYSE:PAG) – Stock analysts at KeyCorp issued their Q1 2018 EPS estimates for Penske Automotive Group in a research report issued on Friday. KeyCorp analyst I. Hodakovsky anticipates that the company will post earnings of $1.28 per share for the quarter. KeyCorp also issued estimates for Penske Automotive Group’s Q2 2018 earnings at $1.45 EPS, Q3 2018 earnings at $1.28 EPS and Q4 2018 earnings at $1.19 EPS.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. Penske Automotive Group had a net margin of 2.87% and a return on equity of 17.67%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year.

PAG has been the topic of a number of other research reports. Gabelli boosted their price target on shares of Penske Automotive Group from $68.00 to $69.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Bank of America boosted their price target on shares of Penske Automotive Group from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Tuesday, December 26th. Finally, ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Penske Automotive Group currently has a consensus rating of “Hold” and a consensus price target of $55.71.

Shares of Penske Automotive Group (NYSE:PAG) opened at $48.44 on Monday. Penske Automotive Group has a 1-year low of $38.33 and a 1-year high of $54.83. The company has a current ratio of 1.01, a quick ratio of 0.23 and a debt-to-equity ratio of 0.86. The stock has a market cap of $4,154.60, a P/E ratio of 6.78, a PEG ratio of 1.41 and a beta of 1.46.

Penske Automotive Group declared that its Board of Directors has approved a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, February 9th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 2.81%. Penske Automotive Group’s payout ratio is presently 18.49%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew 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 valued at $110,000 after purchasing an additional 175 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Penske Automotive Group during the fourth quarter valued at approximately $129,000. Commonwealth Equity Services Inc purchased a new position in Penske Automotive Group during the third quarter valued at approximately $199,000. Jane Street Group LLC purchased a new position in Penske Automotive Group during the third quarter valued at approximately $201,000. Finally, Stephens Inc. AR purchased a new position in Penske Automotive Group during the third quarter valued at approximately $230,000. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Penske Automotive Group (NYSE:PAG)

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