$5.26 Billion in Sales Expected for Penske Automotive Group, Inc. (PAG) This Quarter

Analysts expect Penske Automotive Group, Inc. (NYSE:PAG) to post $5.26 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Penske Automotive Group’s earnings, with the lowest sales estimate coming in at $5.20 billion and the highest estimate coming in at $5.30 billion. Penske Automotive Group posted sales of $4.89 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7.6%. The company is expected to announce its next quarterly earnings results on Tuesday, February 6th.

On average, analysts expect that Penske Automotive Group will report full year sales of $5.26 billion for the current financial year, with estimates ranging from $21.10 billion to $21.35 billion. For the next year, analysts anticipate that the firm will post sales of $21.57 billion per share, with estimates ranging from $21.20 billion to $21.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Penske Automotive Group.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. Penske Automotive Group had a net margin of 1.75% and a return on equity of 18.68%. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the firm posted $1.03 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year.

Several research firms have weighed in on PAG. Gabelli boosted their price target on shares of Penske Automotive Group from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. KeyCorp reissued a “hold” rating on shares of Penske Automotive Group in a research note on Wednesday, October 4th. Berenberg Bank began coverage on shares of Penske Automotive Group in a research note on Wednesday, October 4th. They issued a “hold” rating and a $52.00 price target for the company. ValuEngine raised shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Northcoast Research began coverage on shares of Penske Automotive Group in a research note on Thursday, September 28th. They issued a “buy” rating and a $56.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.00.

Penske Automotive Group (PAG) traded down $0.40 during midday trading on Tuesday, hitting $46.20. 476,400 shares of the stock were exchanged, compared to its average volume of 469,011. Penske Automotive Group has a 52 week low of $38.33 and a 52 week high of $56.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.04 and a quick ratio of 0.23. The company has a market cap of $3,996.79, a P/E ratio of 10.97, a P/E/G ratio of 1.67 and a beta of 1.47.

Penske Automotive Group declared that its board has initiated a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a $0.33 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.86%. Penske Automotive Group’s payout ratio is presently 30.99%.

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In other Penske Automotive Group news, EVP Shane M. Spradlin sold 3,188 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $47.41, for a total value of $151,143.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Corp Penske acquired 1,103,996 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was purchased at an average price of $45.29 per share, for a total transaction of $49,999,978.84. Following the transaction, the insider now directly owns 11,564,576 shares of the company’s stock, valued at approximately $523,759,647.04. The disclosure for this purchase can be found here. 40.70% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its position in shares of Penske Automotive Group by 0.6% in the second quarter. IFP Advisors Inc now owns 18,404 shares of the company’s stock valued at $808,000 after acquiring an additional 109 shares during the period. Lowe Brockenbrough & Co. Inc. increased its position in shares of Penske Automotive Group by 0.6% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 24,585 shares of the company’s stock valued at $1,080,000 after acquiring an additional 135 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Penske Automotive Group by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 2,499 shares of the company’s stock valued at $110,000 after acquiring an additional 175 shares during the period. Amalgamated Bank increased its position in shares of Penske Automotive Group by 3.4% in the first quarter. Amalgamated Bank now owns 5,518 shares of the company’s stock valued at $258,000 after acquiring an additional 180 shares during the period. Finally, Alpha Windward LLC increased its position in shares of Penske Automotive Group by 2.6% in the second quarter. Alpha Windward LLC now owns 10,320 shares of the company’s stock valued at $453,000 after acquiring an additional 265 shares during the period. Hedge funds and other institutional investors own 41.05% of the company’s stock.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.

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

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