Penske Automotive Group (PAG) to Release Quarterly Earnings on Wednesday

Penske Automotive Group (NYSE:PAG) is set to 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 issued its quarterly earnings results on Wednesday, February 7th. The company reported $3.45 earnings per share for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.21). Penske Automotive Group had a return on equity of 24.19% and a net margin of 3.57%. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $7.18 billion. During the same period in the prior year, the company earned $4.21 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. 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 Price Performance

PAG opened at $149.10 on Tuesday. The stock has a market capitalization of $10.00 billion, a PE ratio of 9.63 and a beta of 1.19. Penske Automotive Group has a 1 year low of $133.72 and a 1 year high of $180.84. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.00. The company’s 50 day simple moving average is $153.11 and its 200 day simple moving average is $152.82.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

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.