Penske Automotive Group, Inc. (PAG) to Distribute Quarterly Dividend of $1.46 on December 1st

Penske Automotive Group, Inc. (NYSE:PAG) announced a quarterly dividend on Wednesday, October 14th. Stockholders of record on Friday, November 13th will be given a dividend of $1.46 per share on Tuesday, December 1st. This represents a $5.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, November 13th. This is a 1.4% increase from Penske Automotive Group’s previous quarterly dividend of $1.44.

Penske Automotive Group has raised its dividend by an average of 0.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Penske Automotive Group has a dividend payout ratio of 39.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Penske Automotive Group to earn $14.20 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 40.6%.

Penske Automotive Group Price Performance

Penske Automotive Group stock opened at $212.05 on Friday. The firm has a fifty day moving average of $211.78 and a 200-day moving average of $189.29. Penske Automotive Group has a 52-week low of $140.12 and a 52-week high of $227.00. The company has a quick ratio of 0.21, a current ratio of 0.98 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $13.92 billion, a P/E ratio of 15.61 and a beta of 0.92.

Penske Automotive Group (NYSE:PAG) last posted its earnings results on Wednesday, July 29th. The company reported $3.62 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same quarter in the previous year, the business posted $3.78 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that Penske Automotive Group will post 13.48 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group set a $190.00 price objective on Penske Automotive Group in a research note on Friday, July 10th. Stephens upped their target price on Penske Automotive Group from $166.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lowered 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. Barclays lowered their target price on Penske Automotive Group from $225.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, October 6th. Finally, Benchmark downgraded Penske Automotive Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.29.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. The company sells new and used cars, trucks and other vehicles, representing a broad range of manufacturers and brands.

Its retail automotive operations also provide vehicle financing and insurance products, maintenance and repair services, replacement parts, collision repair, and other related services. Through its commercial vehicle operations, Penske Automotive Group serves businesses and fleet customers with heavy- and medium-duty trucks, parts and service support, and related transportation solutions.

The company serves customers primarily in the United States, the United Kingdom, Germany, Italy and Japan.