Penske Automotive Group, Inc. Forecasted to Earn FY2021 Earnings of $6.25 Per Share (PAG)

Penske Automotive Group, Inc. (NYSE:PAG) – Equities research analysts at Gabelli dropped their FY2021 EPS estimates for shares of Penske Automotive Group in a report issued on Monday. Gabelli analyst B. Sponheimer now forecasts that the company will post earnings of $6.25 per share for the year, down from their prior forecast of $6.30. Gabelli has a “Buy” rating and a $69.00 price objective on the stock. Gabelli also issued estimates for Penske Automotive Group’s FY2022 earnings at $6.65 EPS.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Thursday, February 8th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Penske Automotive Group had a return on equity of 17.67% and a net margin of 2.87%. The business had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.27 billion. During the same period last year, the company earned $0.91 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis.

A number of other brokerages also recently issued reports on PAG. Zacks Investment Research raised Penske Automotive Group from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Tuesday, December 26th. Bank of America raised their target price on Penske Automotive Group from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, ValuEngine raised Penske Automotive Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $55.57.

Shares of Penske Automotive Group (NYSE PAG) traded down $0.31 on Tuesday, hitting $48.00. The company’s stock had a trading volume of 516,847 shares, compared to its average volume of 561,547. Penske Automotive Group has a twelve month low of $38.33 and a twelve month high of $54.83. The firm has a market cap of $4,122.87, a P/E ratio of 6.77, a PEG ratio of 1.22 and a beta of 1.46. The company has a quick ratio of 0.22, a current ratio of 1.01 and a debt-to-equity ratio of 0.86.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Shell Asset Management Co. purchased a new position in shares of Penske Automotive Group during the 3rd quarter worth $560,000. Alpha Windward LLC grew its holdings in shares of Penske Automotive Group by 13.4% during the 3rd quarter. Alpha Windward LLC now owns 11,700 shares of the company’s stock worth $557,000 after purchasing an additional 1,380 shares during the period. Gabelli Funds LLC grew its holdings in shares of Penske Automotive Group by 7.5% during the 3rd quarter. Gabelli Funds LLC now owns 158,100 shares of the company’s stock worth $7,521,000 after purchasing an additional 11,091 shares during the period. Columbia Partners L L C Investment Management purchased a new position in shares of Penske Automotive Group during the 3rd quarter worth $1,957,000. Finally, Keybank National Association OH purchased a new position in shares of Penske Automotive Group during the 3rd quarter worth $500,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, February 9th. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.83%. Penske Automotive Group’s dividend payout ratio is currently 19.05%.

Penske Automotive Group declared that its board has authorized a share repurchase program on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

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About Penske Automotive Group

Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.

Earnings History and Estimates for Penske Automotive Group (NYSE:PAG)

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