Penske Automotive Group (NYSE:PAG) Updates Q2 2021 Earnings Guidance

Penske Automotive Group (NYSE:PAG) updated its second quarter 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $4.000-$ for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.120. The company issued revenue guidance of -.

PAG has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of Penske Automotive Group from $80.00 to $92.00 and gave the company an overweight rating in a report on Friday, May 7th. Bank of America increased their price target on shares of Penske Automotive Group from $119.00 to $141.00 and gave the company a buy rating in a report on Friday, July 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $84.14.

Shares of NYSE PAG traded up $0.02 during mid-day trading on Thursday, hitting $82.57. The company’s stock had a trading volume of 5,057 shares, compared to its average volume of 292,299. The stock has a market capitalization of $6.67 billion, a PE ratio of 9.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.60. 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 one year low of $44.38 and a one year high of $93.45. The company has a fifty day simple moving average of $80.25.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Tuesday, April 27th. The company reported $2.26 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter last year, the firm earned $0.64 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Penske Automotive Group will post 9.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 2nd. Investors of record on Monday, May 24th were paid a dividend of $0.44 per share. This is a positive change 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 yield of 2.13%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 26.51%.

In other news, CEO Roger S. Penske sold 20,813 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $84.10, for a total value of $1,750,373.30. Also, EVP Claude H. Denker III sold 15,000 shares of Penske Automotive Group stock in a transaction that occurred on Thursday, April 29th. The shares were sold at an average price of $90.30, for a total transaction 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 $3,391,577.70. The disclosure for this sale can be found here. Insiders have sold a total of 40,813 shares of company stock worth $3,568,823 in the last three months. 44.30% of the stock is owned by insiders.

Penske Automotive Group Company Profile

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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Earnings History and Estimates for Penske Automotive Group (NYSE:PAG)

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