Q4 2023 EPS Estimates for Penske Automotive Group, Inc. (NYSE:PAG) Increased by Analyst

Penske Automotive Group, Inc. (NYSE:PAG – Get Rating) – Equities research analysts at Zacks Research boosted their Q4 2023 earnings per share estimates for Penske Automotive Group in a research report issued on Tuesday, May 9th. Zacks Research analyst R. Singhi now anticipates that the company will post earnings of $3.38 per share for the quarter, up from their prior forecast of $3.23. The consensus estimate for Penske Automotive Group’s current full-year earnings is $15.73 per share. Zacks Research also issued estimates for Penske Automotive Group’s Q1 2024 earnings at $3.16 EPS, Q2 2024 earnings at $3.54 EPS, Q3 2024 earnings at $3.47 EPS, Q4 2024 earnings at $3.64 EPS, FY2024 earnings at $13.80 EPS, Q1 2025 earnings at $3.49 EPS and FY2025 earnings at $13.89 EPS.

A number of other brokerages also recently weighed in on PAG. Stephens lifted their target price on Penske Automotive Group from $140.00 to $155.00 in a report on Thursday, February 9th. JPMorgan Chase & Co. upped their target price on Penske Automotive Group from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 21st. Morgan Stanley lowered their price target on Penske Automotive Group from $93.00 to $88.00 and set an “underweight” rating for the company in a research report on Tuesday, January 17th. Finally, StockNews.com began coverage on Penske Automotive Group in a research note on Thursday, March 16th. They issued a “buy” rating for the company.

Penske Automotive Group Trading Down 1.3 %

Shares of PAG stock opened at $138.95 on Thursday. The company has a market cap of $9.59 billion, a P/E ratio of 7.69 and a beta of 1.22. The stock has a 50 day simple moving average of $138.76 and a two-hundred day simple moving average of $129.21. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 1.01. Penske Automotive Group has a fifty-two week low of $94.49 and a fifty-two week high of $155.36.

Penske Automotive Group (NYSE:PAG – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The company reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.28. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.02 billion. Penske Automotive Group had a return on equity of 31.14% and a net margin of 4.65%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.76 earnings per share.

Insider Buying and Selling at Penske Automotive Group

In other news, Director Kimberly J. Mcwaters sold 8,524 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $141.53, for a total transaction of $1,206,401.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kimberly J. Mcwaters sold 8,524 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $141.53, for a total transaction of $1,206,401.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Barr sold 2,000 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $145.31, for a total value of $290,620.00. Following the transaction, the director now owns 3,712 shares of the company’s stock, valued at approximately $539,390.72. The disclosure for this sale can be found here. Corporate insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. bought a new position in Penske Automotive Group in the 4th quarter worth about $330,000. Teza Capital Management LLC bought a new position in Penske Automotive Group in the 3rd quarter worth about $545,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Penske Automotive Group by 57.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,620 shares of the company’s stock worth $947,000 after purchasing an additional 3,500 shares during the period. Towle & Co raised its holdings in shares of Penske Automotive Group by 2.5% in the 3rd quarter. Towle & Co now owns 6,930 shares of the company’s stock valued at $682,000 after acquiring an additional 170 shares in the last quarter. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Penske Automotive Group in the 4th quarter valued at about $298,000. Institutional investors own 32.66% of the company’s stock.

Penske Automotive Group Company Profile

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Penske Automotive Group, Inc is an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems, and related parts and services. It operates through the following segments: Retail Automotive, Retail Commercial Truck, Non-Automotive Investments, and Other.