Penske Automotive Group, Inc. (NYSE:PAG) Plans Quarterly Dividend of $0.42

Penske Automotive Group, Inc. (NYSE:PAG) declared a quarterly dividend on Wednesday, February 12th, Zacks reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.42 per share on Tuesday, March 3rd. This represents a $1.68 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, February 21st. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.41.

Penske Automotive Group has increased its dividend payment by an average of 9.2% annually over the last three years and has increased its dividend every year for the last 9 years. Penske Automotive Group has a payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Penske Automotive Group to earn $5.91 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 27.7%.

Shares of NYSE:PAG traded down $0.23 during trading on Friday, hitting $51.87. 3,261 shares of the company’s stock traded hands, compared to its average volume of 293,687. Penske Automotive Group has a 52 week low of $41.26 and a 52 week high of $53.81. The company has a current ratio of 0.98, a quick ratio of 0.20 and a debt-to-equity ratio of 0.80. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 7.88 and a beta of 1.30. The company has a 50-day moving average price of $49.06 and a 200-day moving average price of $47.81.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.05. Penske Automotive Group had a return on equity of 16.37% and a net margin of 1.89%. The business had revenue of $5.88 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the business posted $1.11 EPS. Penske Automotive Group’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts predict that Penske Automotive Group will post 5.67 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on PAG shares. JPMorgan Chase & Co. lifted their price objective on Penske Automotive Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Cfra lifted their price objective on Penske Automotive Group from $50.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, February 5th. Northcoast Research cut Penske Automotive Group from a “buy” rating to a “neutral” rating in a report on Monday, December 23rd. Morgan Stanley lifted their price objective on Penske Automotive Group from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, ValuEngine cut Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Penske Automotive Group currently has an average rating of “Hold” and a consensus target price of $54.75.

About Penske Automotive Group

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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Dividend History for Penske Automotive Group (NYSE:PAG)

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