Penske Automotive Group, Inc. (NYSE:PAG – Free Report) – Research analysts at Seaport Res Ptn cut their FY2024 earnings estimates for shares of Penske Automotive Group in a note issued to investors on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $13.58 per share for the year, down from their previous estimate of $13.68. The consensus estimate for Penske Automotive Group’s current full-year earnings is $13.72 per share. Seaport Res Ptn also issued estimates for Penske Automotive Group’s FY2025 earnings at $14.13 EPS.
Penske Automotive Group (NYSE:PAG – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.39 by $0.22. Penske Automotive Group had a net margin of 3.05% and a return on equity of 19.82%. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.59 billion. During the same quarter in the prior year, the firm posted $4.41 earnings per share. Penske Automotive Group’s revenue for the quarter was up 3.1% on a year-over-year basis.
View Our Latest Research Report on PAG
Penske Automotive Group Stock Performance
NYSE PAG opened at $153.96 on Wednesday. Penske Automotive Group has a 1 year low of $137.95 and a 1 year high of $179.72. The company has a market capitalization of $10.28 billion, a PE ratio of 11.34 and a beta of 1.16. The company has a fifty day moving average of $159.48 and a two-hundred day moving average of $155.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.22.
Institutional Trading of Penske Automotive Group
A number of institutional investors have recently made changes to their positions in PAG. Fifth Third Bancorp raised its holdings in shares of Penske Automotive Group by 32.2% in the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock worth $56,000 after purchasing an additional 91 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Penske Automotive Group during the second quarter valued at approximately $69,000. WFA Asset Management Corp acquired a new position in Penske Automotive Group in the 1st quarter valued at approximately $84,000. Blue Trust Inc. increased its stake in Penske Automotive Group by 17.5% in the 2nd quarter. Blue Trust Inc. now owns 757 shares of the company’s stock valued at $123,000 after buying an additional 113 shares during the period. Finally, Brighton Jones LLC bought a new stake in Penske Automotive Group in the third quarter worth approximately $209,000. 77.08% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Penske Automotive Group news, Director John Barr sold 716 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $170.71, for a total transaction of $122,228.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 51.70% of the company’s stock.
Penske Automotive Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a $1.19 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a dividend yield of 3.09%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. Penske Automotive Group’s payout ratio is presently 31.52%.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. 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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