Seaport Res Ptn Analysts Increase Earnings Estimates for Penske Automotive Group, Inc. (NYSE:PAG)

Penske Automotive Group, Inc. (NYSE:PAGGet Rating) – Research analysts at Seaport Res Ptn boosted their Q4 2022 earnings estimates for Penske Automotive Group in a research note issued to investors on Friday, January 20th. Seaport Res Ptn analyst G. Chin now forecasts that the company will earn $4.05 per share for the quarter, up from their previous forecast of $4.04. The consensus estimate for Penske Automotive Group’s current full-year earnings is $18.38 per share. Seaport Res Ptn also issued estimates for Penske Automotive Group’s FY2023 earnings at $15.87 EPS.

Penske Automotive Group (NYSE:PAGGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $4.61 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.23. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.79 billion. Penske Automotive Group had a net margin of 5.14% and a return on equity of 33.86%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.46 earnings per share.

PAG has been the topic of several other reports. StockNews.com lowered shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. JPMorgan Chase & Co. dropped their price target on shares of Penske Automotive Group from $125.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, October 6th. Finally, Morgan Stanley dropped their price target on shares of Penske Automotive Group from $93.00 to $88.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 17th.

Penske Automotive Group Stock Performance

Shares of PAG stock opened at $117.69 on Monday. The company’s fifty day simple moving average is $119.91 and its 200-day simple moving average is $113.45. The company has a quick ratio of 0.25, a current ratio of 0.98 and a debt-to-equity ratio of 0.38. The firm has a market cap of $8.39 billion, a PE ratio of 6.43, a P/E/G ratio of 1.73 and a beta of 1.28. Penske Automotive Group has a 12 month low of $88.58 and a 12 month high of $131.55.

Hedge Funds Weigh In On Penske Automotive Group

Several large investors have recently modified their holdings of PAG. JPMorgan Chase & Co. raised its position in shares of Penske Automotive Group by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 120,271 shares of the company’s stock valued at $11,272,000 after purchasing an additional 2,842 shares during the period. Raymond James & Associates raised its position in shares of Penske Automotive Group by 9.7% in the first quarter. Raymond James & Associates now owns 32,424 shares of the company’s stock valued at $3,039,000 after purchasing an additional 2,877 shares during the period. Bank of New York Mellon Corp raised its position in shares of Penske Automotive Group by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 307,996 shares of the company’s stock valued at $28,864,000 after purchasing an additional 3,730 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Penske Automotive Group by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,367 shares of the company’s stock valued at $784,000 after purchasing an additional 137 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Penske Automotive Group by 3.5% in the first quarter. Citigroup Inc. now owns 25,355 shares of the company’s stock valued at $2,376,000 after acquiring an additional 860 shares in the last quarter. 32.66% of the stock is owned by institutional investors.

Penske Automotive Group Company Profile

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

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