Equities analysts expect Penske Automotive Group, Inc. (NYSE:PAG) to post $3.39 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Penske Automotive Group’s earnings, with the highest sales estimate coming in at $3.67 billion and the lowest estimate coming in at $3.12 billion. Penske Automotive Group reported sales of $5.76 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 41.1%. The firm is scheduled to announce its next earnings report on Tuesday, August 4th.
According to Zacks, analysts expect that Penske Automotive Group will report full year sales of $19.09 billion for the current year, with estimates ranging from $18.57 billion to $19.64 billion. For the next financial year, analysts expect that the firm will post sales of $22.30 billion, with estimates ranging from $21.21 billion to $23.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Penske Automotive Group.
Penske Automotive Group (NYSE:PAG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.05). The company had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $5.16 billion. Penske Automotive Group had a return on equity of 14.32% and a net margin of 1.72%. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS.
PAG traded up $1.48 during trading hours on Friday, hitting $40.89. 297,200 shares of the stock were exchanged, compared to its average volume of 413,131. The stock has a 50-day simple moving average of $38.52 and a 200-day simple moving average of $40.03. Penske Automotive Group has a 12 month low of $19.99 and a 12 month high of $53.81. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 4.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.03 and a quick ratio of 0.22.
Several institutional investors and hedge funds have recently modified their holdings of PAG. FMR LLC increased its holdings in shares of Penske Automotive Group by 8.6% during the first quarter. FMR LLC now owns 81,243 shares of the company’s stock valued at $3,628,000 after purchasing an additional 6,436 shares during the period. Victory Capital Management Inc. grew its holdings in Penske Automotive Group by 1.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,067,796 shares of the company’s stock worth $103,845,000 after acquiring an additional 33,090 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Penske Automotive Group by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 271,004 shares of the company’s stock worth $13,610,000 after acquiring an additional 4,643 shares during the period. Eaton Vance Management grew its holdings in Penske Automotive Group by 120.6% during the fourth quarter. Eaton Vance Management now owns 109,168 shares of the company’s stock worth $5,482,000 after acquiring an additional 59,690 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new position in Penske Automotive Group during the fourth quarter worth about $134,000. 39.74% of the stock is currently owned by institutional investors.
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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