Penske Automotive Group (NYSE:PAG) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Penske Automotive Group (NYSE:PAG) issued its quarterly earnings results on Wednesday. The company reported $3.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.37 by ($0.01), Briefing.com reports. Penske Automotive Group’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 earnings per share.

Penske Automotive Group Stock Up 0.0%

NYSE:PAG traded up $0.02 during trading hours on Wednesday, hitting $212.17. 39,669 shares of the stock were exchanged, compared to its average volume of 363,221. The company has a market capitalization of $13.93 billion, a P/E ratio of 15.62 and a beta of 0.92. The company’s 50 day moving average is $210.85 and its two-hundred day moving average is $182.04. Penske Automotive Group has a twelve month low of $140.12 and a twelve month high of $227.00.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $1.46 dividend. This represents a $5.84 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, November 13th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $1.44. Penske Automotive Group’s dividend payout ratio is 43.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PAG shares. Barclays reduced their price objective on Penske Automotive Group from $225.00 to $210.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Weiss Ratings upgraded Penske Automotive Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 11th. JPMorgan Chase & Co. cut their target price on Penske Automotive Group from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Tuesday, October 6th. UBS Group reaffirmed a “neutral” rating and issued a $212.00 target price on shares of Penske Automotive Group in a research report on Friday, October 16th. Finally, Benchmark cut Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.43.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. Through its retail automotive operations, the company sells new and used cars and trucks representing a range of manufacturers and provides related services, including vehicle maintenance and repair, parts, collision repair, financing, insurance products and extended service contracts.

The company also operates commercial truck dealerships that sell and service new and used trucks and offer parts and maintenance services to commercial customers.