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

Penske Automotive Group, Inc. (NYSE:PAG – Get 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:PAG – Get 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

(Get Rating)

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.