Penske Automotive Group, Inc. (NYSE:PAG) Expected to Post Quarterly Sales of $6.08 Billion


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Wall Street brokerages expect Penske Automotive Group, Inc. (NYSE:PAG) to post sales of $6.08 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Penske Automotive Group’s earnings, with the lowest sales estimate coming in at $5.34 billion and the highest estimate coming in at $6.81 billion. Penske Automotive Group reported sales of $3.65 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 66.6%. The company is expected to announce its next quarterly earnings report on Wednesday, August 4th.

On average, analysts expect that Penske Automotive Group will report full-year sales of $24.32 billion for the current financial year, with estimates ranging from $22.80 billion to $26.12 billion. For the next financial year, analysts anticipate that the company will post sales of $25.71 billion, with estimates ranging from $24.21 billion to $28.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Penske Automotive Group.

Penske Automotive Group (NYSE:PAG) last posted its quarterly earnings results on Tuesday, April 27th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $1.81 by $0.45. Penske Automotive Group had a net margin of 2.17% and a return on equity of 15.09%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year.

PAG has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Penske Automotive Group from $76.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, February 25th. Stephens lifted their price target on shares of Penske Automotive Group from $70.00 to $78.00 in a report on Thursday, February 11th. Finally, Truist lifted their price target on shares of Penske Automotive Group from $65.00 to $75.00 in a report on Friday, January 15th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Penske Automotive Group presently has an average rating of “Buy” and a consensus price target of $67.67.

In other news, EVP Claude H. Denker III sold 15,000 shares of the business’s stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $90.30, for a total transaction of $1,354,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 44.10% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Founders Capital Management bought a new position in Penske Automotive Group in the 4th quarter worth about $30,000. Fieldpoint Private Securities LLC bought a new position in Penske Automotive Group in the 1st quarter worth about $67,000. Bessemer Group Inc. bought a new position in Penske Automotive Group in the 4th quarter worth about $101,000. NN Investment Partners Holdings N.V. bought a new position in Penske Automotive Group in the 1st quarter worth about $144,000. Finally, Lehman & Derafelo Financial Resources LLC purchased a new position in Penske Automotive Group in the 1st quarter worth about $201,000. Institutional investors own 38.14% of the company’s stock.

Shares of NYSE PAG traded up $0.46 during mid-day trading on Friday, hitting $90.74. The stock had a trading volume of 8,993 shares, compared to its average volume of 286,122. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.28 and a current ratio of 1.06. Penske Automotive Group has a 1 year low of $29.65 and a 1 year high of $91.43. The business has a 50 day moving average price of $83.92 and a two-hundred day moving average price of $67.16. The firm has a market cap of $7.29 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships. 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.

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