Equities analysts expect Penske Automotive Group, Inc. (NYSE:PAG) to announce $1.14 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Penske Automotive Group’s earnings, with the lowest EPS estimate coming in at $0.73 and the highest estimate coming in at $1.49. Penske Automotive Group reported earnings of $1.42 per share during the same quarter last year, which would indicate a negative year over year growth rate of 19.7%. The firm is expected to announce its next quarterly earnings results on Tuesday, November 3rd.
On average, analysts expect that Penske Automotive Group will report full year earnings of $3.33 per share for the current financial year, with EPS estimates ranging from $2.40 to $3.65. For the next year, analysts expect that the company will report earnings of $4.93 per share, with EPS estimates ranging from $3.85 to $5.72. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Penske Automotive Group.
Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. Penske Automotive Group had a net margin of 1.53% and a return on equity of 11.48%. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the company posted $1.42 EPS. Penske Automotive Group’s revenue was down 36.6% compared to the same quarter last year.
A number of research firms have weighed in on PAG. TheStreet raised Penske Automotive Group from a “c+” rating to a “b-” rating in a report on Tuesday. Zacks Investment Research cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating and set a $28.00 price objective for the company. in a research note on Tuesday, April 7th. Morgan Stanley increased their target price on shares of Penske Automotive Group from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th. ValuEngine lowered shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 15th. Finally, Benchmark upgraded Penske Automotive Group from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Penske Automotive Group presently has a consensus rating of “Hold” and an average target price of $45.75.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC grew its holdings in shares of Penske Automotive Group by 427.1% during the second quarter. Jacobi Capital Management LLC now owns 3,500 shares of the company’s stock valued at $26,000 after buying an additional 2,836 shares during the last quarter. US Bancorp DE increased its position in Penske Automotive Group by 41.3% during the first quarter. US Bancorp DE now owns 1,197 shares of the company’s stock valued at $34,000 after acquiring an additional 350 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Penske Automotive Group in the second quarter valued at $63,000. Selective Wealth Management Inc. bought a new stake in shares of Penske Automotive Group in the 2nd quarter worth about $79,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Penske Automotive Group during the 4th quarter worth about $86,000. Institutional investors and hedge funds own 39.60% of the company’s stock.
Shares of NYSE PAG opened at $44.82 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.22 and a current ratio of 0.94. Penske Automotive Group has a fifty-two week low of $19.99 and a fifty-two week high of $53.81. The stock has a market cap of $3.74 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 3.56 and a beta of 1.66. The stock has a fifty day moving average of $41.57 and a 200-day moving average of $39.50.
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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