Penske Automotive Group (NYSE:PAG) Issues Quarterly Earnings Results
Penske Automotive Group (NYSE:PAG) announced its quarterly earnings results on Wednesday. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01, MarketWatch Earnings reports. Penske Automotive Group had a return on equity of 11.48% and a net margin of 1.53%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the business earned $1.42 EPS. Penske Automotive Group’s revenue was down 36.6% compared to the same quarter last year.
Shares of NYSE PAG traded down $1.78 during trading hours on Friday, reaching $44.66. The stock had a trading volume of 6,093 shares, compared to its average volume of 364,494. Penske Automotive Group has a 52-week low of $19.99 and a 52-week high of $53.81. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 3.66 and a beta of 1.66. The business’s fifty day moving average price is $41.46 and its two-hundred day moving average price is $39.50. The company has a current ratio of 0.94, a quick ratio of 0.22 and a debt-to-equity ratio of 0.74.
Several equities research analysts recently commented on the stock. TheStreet raised shares of Penske Automotive Group from a “c+” rating to a “b-” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Penske Automotive Group from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Benchmark upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, June 23rd. Morgan Stanley increased their target price on Penske Automotive Group from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Finally, Northcoast Research downgraded Penske Automotive Group from a “buy” rating to a “neutral” rating in a research note on Friday, July 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Penske Automotive Group currently has an average rating of “Hold” and a consensus target price of $45.75.
Penske Automotive Group, Inc operates as a transportation services company. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It 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 primarily in Australia and New Zealand.
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