Penske Automotive Group, Inc. (NYSE:PAG) Plans Dividend Increase – $1.40 Per Share

Penske Automotive Group, Inc. (NYSE:PAG) announced a quarterly dividend on Wednesday, February 11th. Stockholders of record on Wednesday, February 25th will be paid a dividend of 1.40 per share on Thursday, March 5th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 25th. This is a 1.4% increase from Penske Automotive Group’s previous quarterly dividend of $1.38.

Penske Automotive Group has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 6 years. Penske Automotive Group has a payout ratio of 38.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Penske Automotive Group to earn $14.38 per share next year, which means the company should continue to be able to cover its $5.52 annual dividend with an expected future payout ratio of 38.4%.

Penske Automotive Group Stock Up 4.9%

NYSE:PAG traded up $8.06 during trading hours on Wednesday, hitting $172.46. 488,985 shares of the company’s stock traded hands, compared to its average volume of 264,749. The stock’s fifty day moving average price is $163.84 and its two-hundred day moving average price is $168.86. The firm has a market cap of $11.36 billion, a P/E ratio of 12.14, a P/E/G ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.21 and a current ratio of 0.97. Penske Automotive Group has a twelve month low of $134.05 and a twelve month high of $189.51.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, February 11th. The company reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.19 by ($0.28). The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.62 billion. Penske Automotive Group had a net margin of 3.08% and a return on equity of 16.84%. Penske Automotive Group’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.54 EPS. On average, research analysts expect that Penske Automotive Group will post 13.86 earnings per share for the current fiscal year.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.