Penske Automotive Group, Inc. (NYSE:PAG) Raises Dividend to $1.42 Per Share

Penske Automotive Group, Inc. (NYSE:PAG) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Tuesday, May 26th will be paid a dividend of 1.42 per share on Wednesday, June 3rd. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, May 26th. This is a 1.4% increase from Penske Automotive Group’s previous quarterly dividend of $1.40.

Penske Automotive Group has raised its dividend by an average of 0.4%per year over the last three years and has raised its dividend every year for the last 6 years. Penske Automotive Group has a payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Penske Automotive Group to earn $14.49 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 38.6%.

Penske Automotive Group Price Performance

Shares of Penske Automotive Group stock opened at $166.46 on Thursday. The stock has a 50 day moving average of $155.86 and a 200 day moving average of $160.33. Penske Automotive Group has a 12 month low of $140.12 and a 12 month high of $189.51. The firm has a market cap of $10.94 billion, a PE ratio of 12.42, a PEG ratio of 2.19 and a beta of 0.90. The company has a current ratio of 0.96, a quick ratio of 0.22 and a debt-to-equity ratio of 0.39.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.14. Penske Automotive Group had a return on equity of 15.13% and a net margin of 2.85%.The company had revenue of $7.86 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same period in the prior year, the company earned $3.66 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. On average, research analysts expect that Penske Automotive Group will post 13.44 EPS for the current fiscal year.

About Penske Automotive Group

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.