Penske Automotive Group (PAG) Set to Announce Quarterly Earnings on Wednesday

Penske Automotive Group (NYSE:PAG) will announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $3.38 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.66 by ($0.21). The firm had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $7.18 billion. Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. Penske Automotive Group’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.21 earnings per share. On average, analysts expect Penske Automotive Group to post $14 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Penske Automotive Group Stock Up 0.8 %

PAG stock opened at $149.10 on Tuesday. Penske Automotive Group has a twelve month low of $133.72 and a twelve month high of $180.84. The company has a market cap of $10.00 billion, a PE ratio of 9.63 and a beta of 1.19. The business’s 50-day simple moving average is $153.11 and its 200 day simple moving average is $152.82. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

Insider Activity

In related news, Director John Barr sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the sale, the director now owns 716 shares in the company, valued at $110,299.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Greg C. Smith sold 1,604 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $149.38, for a total transaction of $239,605.52. Following the transaction, the director now owns 51,001 shares of the company’s stock, valued at $7,618,529.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Barr sold 1,600 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $154.05, for a total value of $246,480.00. Following the sale, the director now directly owns 716 shares in the company, valued at approximately $110,299.80. The disclosure for this sale can be found here. Company insiders own 52.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PAG shares. Morgan Stanley increased their target price on shares of Penske Automotive Group from $107.00 to $115.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Bank of America boosted their price objective on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $163.20.

About Penske Automotive Group

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.