Analysts expect that Penske Automotive Group, Inc. (NYSE:PAG) will report $6.49 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Penske Automotive Group’s earnings, with the highest sales estimate coming in at $7.37 billion and the lowest estimate coming in at $6.03 billion. Penske Automotive Group posted sales of $3.65 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 77.8%. The firm is expected to announce its next earnings report before the market opens on Wednesday, July 28th.
According to Zacks, analysts expect that Penske Automotive Group will report full year sales of $25.30 billion for the current fiscal year, with estimates ranging from $24.00 billion to $27.20 billion. For the next fiscal year, analysts expect that the business will post sales of $26.62 billion, with estimates ranging from $24.80 billion to $29.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Penske Automotive Group.
Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Tuesday, April 27th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $1.81 by $0.45. Penske Automotive Group had a net margin of 3.18% and a return on equity of 20.79%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The firm’s revenue was up 15.3% on a year-over-year basis.
NYSE PAG traded down $0.61 on Friday, hitting $81.94. 8,944 shares of the stock were exchanged, compared to its average volume of 292,299. The company has a current ratio of 0.95, a quick ratio of 0.24 and a debt-to-equity ratio of 0.43. Penske Automotive Group has a fifty-two week low of $44.38 and a fifty-two week high of $93.45. The firm has a market cap of $6.62 billion, a P/E ratio of 9.85, a PEG ratio of 0.86 and a beta of 1.60. The firm has a 50-day simple moving average of $80.25.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 2nd. Stockholders of record on Monday, May 24th were issued a $0.44 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, May 21st. This represents a $1.76 annualized dividend and a dividend yield of 2.15%. Penske Automotive Group’s dividend payout ratio is presently 26.51%.
In related news, EVP Claude H. Denker III sold 15,000 shares of the company’s stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $90.30, for a total value of $1,354,500.00. Following the completion of the sale, the executive vice president now owns 37,559 shares in the company, valued at approximately $3,391,577.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Roger S. Penske sold 20,813 shares of the company’s stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $84.10, for a total transaction of $1,750,373.30. In the last quarter, insiders sold 40,813 shares of company stock valued at $3,568,823. 44.30% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in PAG. Pflug Koory LLC purchased a new position in Penske Automotive Group during the 2nd quarter worth $43,000. Fieldpoint Private Securities LLC purchased a new position in Penske Automotive Group during the 1st quarter worth $67,000. Bank of Montreal Can raised its position in Penske Automotive Group by 124.1% during the 1st quarter. Bank of Montreal Can now owns 1,004 shares of the company’s stock worth $83,000 after buying an additional 556 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Penske Automotive Group during the 1st quarter worth $144,000. Finally, Captrust Financial Advisors raised its position in Penske Automotive Group by 56,275.0% during the 1st quarter. Captrust Financial Advisors now owns 2,255 shares of the company’s stock worth $181,000 after buying an additional 2,251 shares during the last quarter. Hedge funds and other institutional investors own 35.78% of the company’s stock.
About Penske Automotive Group
Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.
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