Penske Automotive Group, Inc. (PAG) to Issue Quarterly Dividend of $1.42 on June 3rd

Penske Automotive Group, Inc. (NYSE:PAG) announced a quarterly dividend on Wednesday, May 13th. Investors of record on Tuesday, May 26th will be given a dividend of 1.42 per share on Wednesday, June 3rd. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, May 26th. This is a 1.4% increase from Penske Automotive Group’s previous quarterly dividend of $1.40.

Penske Automotive Group has raised its dividend by an average of 0.4%annually over the last three years and has increased its dividend every year for the last 6 years. Penske Automotive Group has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Penske Automotive Group to earn $14.47 per share next year, which means the company should continue to be able to cover its $5.68 annual dividend with an expected future payout ratio of 39.3%.

Penske Automotive Group Price Performance

NYSE:PAG opened at $164.95 on Friday. Penske Automotive Group has a one year low of $140.12 and a one year high of $189.51. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 0.96. The stock has a market cap of $10.85 billion, a PE ratio of 12.31, a P/E/G ratio of 2.14 and a beta of 0.90. The stock has a 50 day moving average price of $156.76 and a 200 day moving average price of $160.32.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.91 by $0.14. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The firm had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $7.71 billion. During the same quarter last year, the firm earned $3.66 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts expect that Penske Automotive Group will post 13.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on PAG shares. Weiss Ratings cut Penske Automotive Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 16th. Stephens increased their price target on Penske Automotive Group from $155.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Citigroup increased their price target on Penske Automotive Group from $193.00 to $199.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Barclays lowered their price objective on Penske Automotive Group from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $190.00 price objective on shares of Penske Automotive Group in a research report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $184.86.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.