What is Zacks Research’s Estimate for PAG FY2024 Earnings?

Penske Automotive Group, Inc. (NYSE:PAG) – Analysts at Zacks Research boosted their FY2024 earnings estimates for shares of Penske Automotive Group in a research report issued on Tuesday, November 12th. Zacks Research analyst L. Sahu now anticipates that the company will post earnings per share of $13.57 for the year, up from their prior estimate of $13.51. The consensus estimate for Penske Automotive Group’s current full-year earnings is $13.72 per share. Zacks Research also issued estimates for Penske Automotive Group’s Q4 2024 earnings at $3.36 EPS, Q1 2025 earnings at $3.06 EPS, Q2 2025 earnings at $3.45 EPS, Q3 2025 earnings at $3.59 EPS, Q4 2025 earnings at $3.59 EPS, FY2025 earnings at $13.69 EPS, Q1 2026 earnings at $3.32 EPS, Q2 2026 earnings at $3.57 EPS, Q3 2026 earnings at $3.64 EPS and FY2026 earnings at $14.09 EPS.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Tuesday, October 29th. The company reported $3.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.02). Penske Automotive Group had a net margin of 2.91% and a return on equity of 18.38%. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.67 billion. During the same quarter last year, the business earned $3.90 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year.

Several other research firms also recently weighed in on PAG. JPMorgan Chase & Co. raised their target price on Penske Automotive Group from $140.00 to $160.00 and gave the company an “underweight” rating in a research report on Tuesday, September 10th. Morgan Stanley upgraded Penske Automotive Group from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $115.00 to $180.00 in a report on Wednesday, September 25th. Stephens began coverage on shares of Penske Automotive Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $161.00 target price for the company. Finally, Bank of America raised their price target on shares of Penske Automotive Group from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Penske Automotive Group Trading Down 0.5 %

PAG stock opened at $160.23 on Thursday. Penske Automotive Group has a 12-month low of $142.32 and a 12-month high of $179.72. The business’s 50-day moving average is $156.44 and its 200 day moving average is $156.29. The company has a current ratio of 0.91, a quick ratio of 0.20 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.70 billion, a price-to-earnings ratio of 12.28 and a beta of 1.17.

Penske Automotive Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be given a dividend of $1.19 per share. This is an increase from Penske Automotive Group’s previous quarterly dividend of $1.07. The ex-dividend date is Friday, November 15th. This represents a $4.76 dividend on an annualized basis and a yield of 2.97%. Penske Automotive Group’s dividend payout ratio (DPR) is presently 32.80%.

Hedge Funds Weigh In On Penske Automotive Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp raised its holdings in Penske Automotive Group by 32.2% in the 2nd quarter. Fifth Third Bancorp now owns 374 shares of the company’s stock valued at $56,000 after buying an additional 91 shares during the period. International Assets Investment Management LLC acquired a new position in Penske Automotive Group in the 2nd quarter valued at about $69,000. True Wealth Design LLC increased its stake in Penske Automotive Group by 14,833.3% during the third quarter. True Wealth Design LLC now owns 448 shares of the company’s stock worth $73,000 after purchasing an additional 445 shares during the period. Transamerica Financial Advisors Inc. lifted its position in shares of Penske Automotive Group by 45,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 454 shares of the company’s stock worth $74,000 after purchasing an additional 453 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Penske Automotive Group in the third quarter valued at approximately $112,000. Institutional investors and hedge funds own 77.08% of the company’s stock.

Penske Automotive Group Company Profile

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