Penske Automotive Group, Inc. (NYSE:PAG) Receives Average Rating of “Hold” from Analysts

Shares of Penske Automotive Group, Inc. (NYSE:PAG) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $163.20.

Separately, Bank of America upped their price target on Penske Automotive Group from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th.

Penske Automotive Group Stock Up 0.6 %

Shares of NYSE PAG opened at $149.02 on Monday. Penske Automotive Group has a one year low of $137.95 and a one year high of $180.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.23. The business’s fifty day moving average price is $151.97 and its 200-day moving average price is $153.22. The stock has a market capitalization of $9.97 billion, a PE ratio of 10.36 and a beta of 1.19.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.35 by ($0.14). Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the prior year, the company earned $4.31 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Penske Automotive Group will post 13.37 EPS for the current year.

Penske Automotive Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $3.84 annualized dividend and a yield of 2.58%. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.87. Penske Automotive Group’s dividend payout ratio (DPR) is currently 26.70%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PAG. Rhumbline Advisers boosted its stake in Penske Automotive Group by 136.8% in the 3rd quarter. Rhumbline Advisers now owns 62,011 shares of the company’s stock worth $10,360,000 after purchasing an additional 35,825 shares during the period. Invesco Ltd. boosted its position in shares of Penske Automotive Group by 164.3% during the 3rd quarter. Invesco Ltd. now owns 292,758 shares of the company’s stock valued at $48,908,000 after acquiring an additional 181,995 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Penske Automotive Group by 306.3% during the 3rd quarter. Hsbc Holdings PLC now owns 25,785 shares of the company’s stock valued at $4,331,000 after acquiring an additional 19,438 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Penske Automotive Group during the 3rd quarter valued at about $301,000. Finally, Federated Hermes Inc. bought a new stake in shares of Penske Automotive Group during the 3rd quarter valued at about $398,000. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Company Profile

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.