Penske Automotive Group, Inc. (NYSE:PAG) Expected to Post Earnings of $0.55 Per Share
October 2, 2020
Analysts expect Penske Automotive Group, Inc. (NYSE:PAG) to report earnings of $0.55 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Penske Automotive Group’s earnings, with estimates ranging from $0.54 to $0.55. Penske Automotive Group posted earnings per share of $1.42 during the same quarter last year, which indicates a negative year over year growth rate of 61.3%. The company is expected to announce its next earnings report on Tuesday, November 3rd.
On average, analysts expect that Penske Automotive Group will report full year earnings of $4.19 per share for the current year, with EPS estimates ranging from $3.90 to $4.40. For the next financial year, analysts expect that the firm will report earnings of $5.66 per share, with EPS estimates ranging from $5.00 to $6.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Penske Automotive Group.
Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $4.06 billion. Penske Automotive Group had a return on equity of 11.48% and a net margin of 1.53%. Penske Automotive Group’s revenue for the quarter was down 36.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share.
A number of equities analysts have weighed in on the stock. ValuEngine cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a research report on Thursday. Morgan Stanley boosted their price target on Penske Automotive Group from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. TheStreet raised Penske Automotive Group from a “c+” rating to a “b-” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. lifted their target price on shares of Penske Automotive Group from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Finally, Northcoast Research cut shares of Penske Automotive Group from a “buy” rating to a “neutral” rating in a research report on Friday, July 17th. 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 stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.75.
In other Penske Automotive Group news, Director John Barr sold 10,000 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $48.99, for a total value of $489,900.00. Following the completion of the sale, the director now directly owns 22,206 shares of the company’s stock, valued at approximately $1,087,871.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.10% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Penske Automotive Group by 8.6% during the 1st quarter. FMR LLC now owns 81,243 shares of the company’s stock worth $3,628,000 after buying an additional 6,436 shares during the last quarter. State Street Corp raised its position in Penske Automotive Group by 1.6% in the first quarter. State Street Corp now owns 647,040 shares of the company’s stock valued at $18,117,000 after purchasing an additional 10,284 shares during the period. Ensign Peak Advisors Inc purchased a new position in shares of Penske Automotive Group during the 1st quarter worth $185,000. JPMorgan Chase & Co. increased its position in shares of Penske Automotive Group by 14.1% during the 1st quarter. JPMorgan Chase & Co. now owns 13,950 shares of the company’s stock worth $390,000 after purchasing an additional 1,725 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Penske Automotive Group by 6.5% in the 1st quarter. Victory Capital Management Inc. now owns 2,201,446 shares of the company’s stock valued at $61,640,000 after buying an additional 133,650 shares during the period. 38.13% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:PAG opened at $47.97 on Friday. The business’s 50 day moving average price is $48.10 and its 200-day moving average price is $39.34. Penske Automotive Group has a 1 year low of $19.99 and a 1 year high of $53.81. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 2.92 and a beta of 1.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.94 and a quick ratio of 0.21.
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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