Penske Automotive Group, Inc. (PAG) to Issue Quarterly Dividend of $1.44 on September 1st

Penske Automotive Group, Inc. (NYSE:PAG) declared a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Friday, August 14th will be given a dividend of 1.44 per share on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, August 14th. This is a 1.4% increase from Penske Automotive Group’s previous quarterly dividend of $1.42.

Penske Automotive Group has increased its dividend payment by an average of 0.4%per year 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 39.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Penske Automotive Group to earn $14.49 per share next year, which means the company should continue to be able to cover its $5.76 annual dividend with an expected future payout ratio of 39.8%.

Penske Automotive Group Stock Up 0.3%

PAG stock opened at $216.88 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.98 and a quick ratio of 0.21. Penske Automotive Group has a 1-year low of $140.12 and a 1-year high of $227.00. The firm has a fifty day moving average price of $193.44 and a two-hundred day moving average price of $171.48. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 2.88 and a beta of 0.84.

Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.42 by $0.20. Penske Automotive Group had a net margin of 2.81% and a return on equity of 14.78%. The company had revenue of $8.51 billion for the quarter, compared to analysts’ expectations of $7.98 billion. During the same period in the prior year, the company earned $3.78 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Penske Automotive Group will post 13.57 EPS for the current year.

Penske Automotive Group Company Profile

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.