Penske Automotive Group (PAG) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Penske Automotive Group (NYSE:PAG) released its earnings results on Thursday. The company reported $1.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.05), MarketWatch Earnings reports. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.57 billion. Penske Automotive Group had a net margin of 3.09% and a return on equity of 17.76%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share.

Shares of Penske Automotive Group stock traded down $3.40 during trading on Thursday, reaching $44.24. 32,236 shares of the company were exchanged, compared to its average volume of 375,844. The company has a quick ratio of 0.22, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Penske Automotive Group has a twelve month low of $38.49 and a twelve month high of $53.84. The stock has a market cap of $4.04 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Monday, February 11th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, February 8th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.44%. Penske Automotive Group’s payout ratio is 34.34%.

PAG has been the subject of several research reports. Morgan Stanley lifted their target price on Penske Automotive Group from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, November 14th. ValuEngine raised Penske Automotive Group from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.80.

Institutional investors have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. acquired a new stake in shares of Penske Automotive Group during the fourth quarter worth $30,000. Parallel Advisors LLC grew its stake in Penske Automotive Group by 473.8% in the fourth quarter. Parallel Advisors LLC now owns 1,050 shares of the company’s stock valued at $42,000 after acquiring an additional 867 shares during the period. Quantamental Technologies LLC acquired a new position in Penske Automotive Group in the fourth quarter valued at about $89,000. Ffcm LLC acquired a new position in Penske Automotive Group in the third quarter valued at about $126,000. Finally, Tower Research Capital LLC TRC grew its stake in Penske Automotive Group by 243.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,801 shares of the company’s stock valued at $133,000 after acquiring an additional 1,986 shares during the period. 43.16% of the stock is owned by institutional investors and hedge funds.

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About Penske Automotive Group

Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It 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 primarily in Australia and New Zealand.

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Earnings History for Penske Automotive Group (NYSE:PAG)

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