Northcoast Research Comments on Penske Automotive Group, Inc.’s FY2018 Earnings (PAG)

Penske Automotive Group, Inc. (NYSE:PAG) – Equities research analysts at Northcoast Research lifted their FY2018 earnings per share (EPS) estimates for shares of Penske Automotive Group in a report issued on Thursday. Northcoast Research analyst J. Healy now forecasts that the company will post earnings per share of $5.05 for the year, up from their prior forecast of $4.75.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data 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. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.27 billion. Penske Automotive Group had a return on equity of 17.67% and a net margin of 2.87%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. ValuEngine upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Bank of America lifted their price objective on Penske Automotive Group from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Finally, Gabelli lifted their price objective on Penske Automotive Group from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. One investment 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. The company has an average rating of “Hold” and a consensus price target of $55.71.

Penske Automotive Group (NYSE PAG) opened at $48.44 on Monday. The stock has a market capitalization of $4,154.60, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. Penske Automotive Group has a one year low of $38.33 and a one year high of $54.83. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.23 and a current ratio of 1.01.

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Penske Automotive Group by 7.5% in 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 purchased a new position in shares of Penske Automotive Group in the fourth quarter worth $129,000. Commonwealth Equity Services Inc purchased a new position in shares of Penske Automotive Group in the third quarter worth $199,000. Jane Street Group LLC purchased a new position in shares of Penske Automotive Group in the third quarter worth $201,000. Finally, Stephens Inc. AR purchased a new position in shares of Penske Automotive Group in the third quarter worth $230,000. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Penske Automotive Group declared that its board has authorized a stock buyback program on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be paid a $0.34 dividend. The ex-dividend date is Friday, February 9th. This represents a $1.36 annualized dividend and a dividend yield of 2.81%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.33. Penske Automotive Group’s payout ratio is currently 18.49%.

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About Penske Automotive Group

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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