Zacks Research Has Positive Outlook of PAG FY2027 Earnings

Penske Automotive Group, Inc. (NYSE:PAG) – Research analysts at Zacks Research raised their FY2027 earnings per share estimates for Penske Automotive Group in a research report issued to clients and investors on Wednesday, August 13th. Zacks Research analyst L. Sahu now expects that the company will earn $15.13 per share for the year, up from their prior forecast of $15.06. The consensus estimate for Penske Automotive Group’s current full-year earnings is $13.86 per share.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, July 30th. The company reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.56 by $0.22. Penske Automotive Group had a return on equity of 17.43% and a net margin of 3.13%. The company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same period in the prior year, the firm earned $3.61 earnings per share. Penske Automotive Group’s revenue for the quarter was down .4% on a year-over-year basis.

PAG has been the subject of several other research reports. Stephens reiterated an “equal weight” rating and set a $140.00 price target on shares of Penske Automotive Group in a report on Wednesday, June 11th. Citigroup upped their price target on Penske Automotive Group from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Bank of America upped their price target on Penske Automotive Group from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Wall Street Zen upgraded Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upgraded Penske Automotive Group from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $155.00 to $175.00 in a report on Tuesday, August 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.00.

Penske Automotive Group Trading Down 1.5%

Shares of Penske Automotive Group stock opened at $180.34 on Friday. The stock has a fifty day simple moving average of $174.36 and a 200 day simple moving average of $164.25. Penske Automotive Group has a 12-month low of $134.05 and a 12-month high of $186.55. The company has a market capitalization of $11.91 billion, a P/E ratio of 12.55 and a beta of 0.87. The company has a current ratio of 0.90, a quick ratio of 0.21 and a debt-to-equity ratio of 0.16.

Penske Automotive Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a $1.32 dividend. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.26. The ex-dividend date is Friday, August 15th. This represents a $5.28 dividend on an annualized basis and a yield of 2.9%. Penske Automotive Group’s dividend payout ratio is currently 35.07%.

Penske Automotive Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Penske Automotive Group

In other Penske Automotive Group news, EVP Shane M. Spradlin sold 3,158 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $167.10, for a total value of $527,701.80. Following the completion of the transaction, the executive vice president owned 36,152 shares in the company, valued at $6,040,999.20. This represents a 8.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Greg C. Smith sold 1,529 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $161.64, for a total value of $247,147.56. The disclosure for this sale can be found here. Insiders sold 82,044 shares of company stock worth $13,257,948 in the last quarter. 51.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Penske Automotive Group during the 2nd quarter worth $32,425,000. AQR Capital Management LLC grew its stake in shares of Penske Automotive Group by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 681,741 shares of the company’s stock worth $116,953,000 after acquiring an additional 118,976 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Penske Automotive Group by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $54,751,000 after acquiring an additional 84,045 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Penske Automotive Group by 4,364.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 84,865 shares of the company’s stock worth $14,581,000 after acquiring an additional 82,964 shares during the period. Finally, Nuveen LLC bought a new position in shares of Penske Automotive Group during the 1st quarter worth $10,004,000. Institutional investors own 77.08% of the company’s stock.

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.