Media coverage about Penske Automotive Group (NYSE:PAG) has trended somewhat positive recently, Accern Sentiment reports. Accern identifies positive and negative news coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Penske Automotive Group earned a coverage optimism score of 0.08 on Accern’s scale. Accern also gave news stories about the company an impact score of 49.3412642934732 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the media headlines that may have effected Accern’s analysis:
- [$$] Auto Highlights: Luxury and No Drivers (finance.yahoo.com)
- Penske Automotive Group, Inc. (PAG) Stock Price trades 4.13% off … – Voice Of Analysts (analystsbuzz.com)
- Insider Weekends – 5 Big Insider Buys And Sells From The Week Of October 23 (feeds.benzinga.com)
- FY2017 EPS Estimates for Penske Automotive Group, Inc. (PAG) Decreased by Gabelli (americanbankingnews.com)
- Brokers Issue Forecasts for Penske Automotive Group, Inc.’s FY2017 Earnings (PAG) (americanbankingnews.com)
Penske Automotive Group (NYSE:PAG) last issued its earnings results on Wednesday, October 25th. The company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.02. Penske Automotive Group had a net margin of 1.75% and a return on equity of 18.68%. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. Penske Automotive Group’s revenue for the quarter was up 7.2% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.71%. The ex-dividend date is Thursday, November 9th. This is an increase from Penske Automotive Group’s previous quarterly dividend of $0.32. Penske Automotive Group’s dividend payout ratio (DPR) is currently 30.05%.
Penske Automotive Group announced that its board has approved a share repurchase program on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
PAG has been the topic of a number of analyst reports. Wells Fargo & Company restated a “market perform” rating and issued a $46.00 target price (down previously from $54.00) on shares of Penske Automotive Group in a report on Monday, July 17th. Zacks Investment Research lowered shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. ValuEngine lowered shares of Penske Automotive Group from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. BidaskClub lowered shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Finally, Northcoast Research initiated coverage on shares of Penske Automotive Group in a report on Thursday, September 28th. They issued a “buy” rating and a $56.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $56.00.
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In other news, major shareholder Corp Penske purchased 1,103,996 shares of the stock in a transaction dated Friday, October 20th. The shares were purchased at an average price of $45.29 per share, with a total value of $49,999,978.84. Following the transaction, the insider now owns 11,564,576 shares in the company, valued at approximately $523,759,647.04. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Claude H. Denker III sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the completion of the transaction, the executive vice president now directly owns 22,243 shares in the company, valued at approximately $917,968.61. The disclosure for this sale can be found here. Company insiders own 40.70% of the company’s stock.
Penske Automotive Group Company Profile
Penske Automotive Group, Inc is an international transportation services company. The Company 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 principally in Australia and New Zealand.
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