Penske Automotive Group, Inc. (PAG) To Go Ex-Dividend on November 8th

Penske Automotive Group, Inc. (NYSE:PAG) declared a quarterly dividend on Thursday, October 18th, Wall Street Journal reports. Stockholders of record on Monday, November 12th will be paid a dividend of 0.37 per share on Tuesday, December 4th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, November 8th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.36.

Penske Automotive Group has increased its dividend payment by an average of 17.3% annually over the last three years and has increased its dividend every year for the last 7 years. Penske Automotive Group has a dividend payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Penske Automotive Group to earn $5.51 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 26.9%.

Shares of Penske Automotive Group stock opened at $45.17 on Friday. The firm has a market capitalization of $3.77 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. Penske Automotive Group has a 12 month low of $41.74 and a 12 month high of $54.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.22 and a current ratio of 1.01.

Penske Automotive Group (NYSE:PAG) last announced its earnings results on Thursday, October 25th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.04. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.86 billion. Penske Automotive Group had a net margin of 3.09% and a return on equity of 17.76%. As a group, equities research analysts expect that Penske Automotive Group will post 5.38 EPS for the current fiscal year.

Several equities analysts have issued reports on the stock. ValuEngine cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut shares of Penske Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Guggenheim cut shares of Penske Automotive Group from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research note on Friday, September 21st. SunTrust Banks assumed coverage on shares of Penske Automotive Group in a research note on Friday, August 24th. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of Penske Automotive Group from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.60.

Penske Automotive Group Company Profile

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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Dividend History for Penske Automotive Group (NYSE:PAG)

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