Equities analysts expect that Penske Automotive Group, Inc. (NYSE:PAG) will announce $5.24 billion in sales for the current fiscal quarter, Zacks 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 reported sales of $4.89 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.2%. The company is expected to announce its next earnings report before the market opens on Thursday, February 8th.
According to Zacks, analysts expect that Penske Automotive Group will report full-year sales of $5.24 billion for the current financial year, with estimates ranging from $21.10 billion to $21.35 billion. For the next financial year, analysts forecast that the firm will post sales of $21.47 billion per share, with estimates ranging from $21.20 billion to $21.89 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Penske Automotive Group.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. Penske Automotive Group had a return on equity of 18.68% and a net margin of 1.75%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.27 billion. During the same period last year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis.
In other news, CFO John D. Jr. Carlson sold 7,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $46.20, for a total value of $323,400.00. Following the sale, the chief financial officer now directly owns 24,844 shares in the company, valued at $1,147,792.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 40.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of Penske Automotive Group by 12.8% in the fourth quarter. First Trust Advisors LP now owns 173,240 shares of the company’s stock valued at $8,290,000 after acquiring an additional 19,633 shares in the last quarter. Swiss National Bank raised its stake in shares of Penske Automotive Group by 2.8% in the fourth quarter. Swiss National Bank now owns 65,900 shares of the company’s stock valued at $3,153,000 after acquiring an additional 1,800 shares in the last quarter. Fenimore Asset Management Inc. raised its stake in Penske Automotive Group by 0.4% in the fourth quarter. Fenimore Asset Management Inc. now owns 324,654 shares of the company’s stock valued at $15,535,000 after buying an additional 1,400 shares in the last quarter. California Public Employees Retirement System raised its stake in Penske Automotive Group by 6.9% in the fourth quarter. California Public Employees Retirement System now owns 96,912 shares of the company’s stock valued at $4,637,000 after buying an additional 6,244 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Penske Automotive Group in the fourth quarter valued at $638,000. Institutional investors and hedge funds own 41.52% of the company’s stock.
Penske Automotive Group (NYSE PAG) opened at $48.25 on Friday. Penske Automotive Group has a 52-week low of $38.33 and a 52-week high of $54.83. The company has a market capitalization of $4,180.34, a price-to-earnings ratio of 11.47, a PEG ratio of 1.42 and a beta of 1.46. 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 business also recently disclosed 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. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Friday, February 9th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 30.99%.
Penske Automotive Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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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