Penske Automotive Group, Inc. (PAG) Expected to Post Quarterly Sales of $5.87 Billion

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Wall Street brokerages expect Penske Automotive Group, Inc. (NYSE:PAG) to announce $5.87 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Penske Automotive Group’s earnings. The lowest sales estimate is $5.79 billion and the highest is $5.95 billion. Penske Automotive Group posted sales of $5.75 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 24th.

According to Zacks, analysts expect that Penske Automotive Group will report full-year sales of $23.23 billion for the current fiscal year, with estimates ranging from $22.41 billion to $23.90 billion. For the next year, analysts forecast that the firm will report sales of $23.45 billion, with estimates ranging from $21.81 billion to $24.45 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Penske Automotive Group.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Thursday, February 7th. The company reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.05). Penske Automotive Group had a return on equity of 17.73% and a net margin of 2.07%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the business earned $1.01 earnings per share. Penske Automotive Group’s revenue was up .8% on a year-over-year basis.

A number of research firms have recently commented on PAG. ValuEngine raised Penske Automotive Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Morgan Stanley lifted their price objective 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. Finally, Seaport Global Securities started coverage on Penske Automotive Group in a research note on Wednesday, February 13th. They set a “buy” rating and a $61.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $58.00.

Penske Automotive Group stock opened at $44.15 on Tuesday. Penske Automotive Group has a one year low of $38.49 and a one year high of $53.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 0.21. The firm has a market capitalization of $3.75 billion, a PE ratio of 8.27, a P/E/G ratio of 1.73 and a beta of 1.37.

The firm 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. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 8th. This represents a $1.52 annualized dividend and a yield of 3.44%. Penske Automotive Group’s dividend payout ratio (DPR) is currently 28.46%.

A number of large investors have recently bought and sold shares of PAG. Winslow Evans & Crocker Inc. purchased a new stake in Penske Automotive Group during the fourth quarter valued at about $30,000. Parallel Advisors LLC raised its position in Penske Automotive Group by 473.8% during the fourth quarter. Parallel Advisors LLC now owns 1,050 shares of the company’s stock valued at $42,000 after purchasing an additional 867 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Penske Automotive Group during the fourth quarter valued at about $89,000. Pearl River Capital LLC purchased a new stake in Penske Automotive Group during the fourth quarter valued at about $103,000. Finally, New York State Teachers Retirement System purchased a new position in shares of Penske Automotive Group in the fourth quarter worth about $125,000. 43.32% of the stock is owned by institutional investors.

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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