Penske Automotive Group, Inc. (NYSE:PAG) – Analysts at Gabelli decreased their FY2021 earnings per share estimates for Penske Automotive Group in a research report issued on Monday. Gabelli analyst B. Sponheimer now forecasts that the company will post earnings per share of $6.25 for the year, down from their prior forecast of $6.30. Gabelli currently has a “Buy” rating and a $69.00 target price on the stock. Gabelli also issued estimates for Penske Automotive Group’s FY2022 earnings at $6.65 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 return on equity of 17.67% and a net margin of 2.87%. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year.
Penske Automotive Group (NYSE PAG) traded down $1.11 during trading on Tuesday, hitting $48.07. The company had a trading volume of 464,366 shares, compared to its average volume of 560,704. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.01 and a quick ratio of 0.22. Penske Automotive Group has a fifty-two week low of $38.33 and a fifty-two week high of $54.83. The company has a market capitalization of $4,154.61, a PE ratio of 6.89, a price-to-earnings-growth ratio of 1.38 and a beta of 1.46.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Penske Automotive Group by 118.2% in the fourth quarter. BlackRock Inc. now owns 3,733,276 shares of the company’s stock worth $178,636,000 after purchasing an additional 2,022,283 shares during the period. Vanguard Group Inc. increased its position in Penske Automotive Group by 1.9% in the second quarter. Vanguard Group Inc. now owns 2,783,279 shares of the company’s stock worth $122,214,000 after purchasing an additional 51,334 shares during the period. Burgundy Asset Management Ltd. increased its position in Penske Automotive Group by 0.8% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,150,970 shares of the company’s stock worth $102,924,000 after purchasing an additional 16,466 shares during the period. Fiduciary Management Inc. WI increased its position in Penske Automotive Group by 26.9% in 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 period. Finally, Deprince Race & Zollo Inc. increased its position in Penske Automotive Group by 81.6% in 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 period. Hedge funds and other institutional investors own 41.71% of the company’s stock.
The company 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 $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, February 9th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 19.05%.
Penske Automotive Group announced that its Board of Directors has approved a share buyback program on Wednesday, October 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are 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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