Penske Automotive Group (NYSE:PAG) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Penske Automotive Group (NYSE:PAG) posted its quarterly earnings data on Tuesday. The company reported $3.39 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.02), Briefing.com reports. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. Penske Automotive Group’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.90 earnings per share.

Penske Automotive Group Trading Up 0.0 %

NYSE:PAG traded up $0.01 during mid-day trading on Friday, reaching $150.58. The company’s stock had a trading volume of 19,380 shares, compared to its average volume of 186,762. The company’s fifty day simple moving average is $158.21 and its two-hundred day simple moving average is $155.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.91 and a quick ratio of 0.22. Penske Automotive Group has a twelve month low of $142.32 and a twelve month high of $179.72. The stock has a market cap of $10.05 billion, a P/E ratio of 11.56 and a beta of 1.16.

Penske Automotive Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.16%. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. Penske Automotive Group’s dividend payout ratio (DPR) is presently 32.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America raised their price target on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their price target for the company from $115.00 to $180.00 in a research report on Wednesday, September 25th. Stephens assumed coverage on Penske Automotive Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $161.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research report on Tuesday, September 10th.

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.