Penske Automotive Group, Inc. (NYSE:PAG) Increases Dividend to $1.46 Per Share

Penske Automotive Group, Inc. (NYSE:PAG) declared a quarterly dividend on Wednesday, October 14th. Investors of record on Friday, November 13th will be given a dividend of $1.46 per share on Tuesday, December 1st. This represents a $5.84 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, November 13th. This is a 1.4% increase from Penske Automotive Group’s previous quarterly dividend of $1.44.

Penske Automotive Group has raised its dividend payment by an average of 0.4% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Penske Automotive Group has a payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Penske Automotive Group to earn $14.20 per share next year, which means the company should continue to be able to cover its $5.76 annual dividend with an expected future payout ratio of 40.6%.

Penske Automotive Group Stock Performance

Penske Automotive Group stock opened at $212.05 on Friday. The company has a 50 day moving average price of $211.78 and a 200-day moving average price of $189.29. The company has a market capitalization of $13.92 billion, a PE ratio of 15.61 and a beta of 0.92. Penske Automotive Group has a fifty-two week low of $140.12 and a fifty-two week high of $227.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.21 and a current ratio of 0.98.

Penske Automotive Group (NYSE:PAG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $3.62 EPS for the quarter, beating the consensus estimate of $3.42 by $0.20. Penske Automotive Group had a return on equity of 14.78% and a net margin of 2.81%. The firm had revenue of $8.51 billion for the quarter, compared to analyst estimates of $7.98 billion. During the same quarter last year, the firm posted $3.78 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that Penske Automotive Group will post 13.48 earnings per share for the current year.

About Penske Automotive Group

Penske Automotive Group, Inc is a diversified international transportation services company that operates automotive and commercial vehicle dealerships. The company sells new and used cars, trucks and other vehicles, representing a broad range of manufacturers and brands.

Its retail automotive operations also provide vehicle financing and insurance products, maintenance and repair services, replacement parts, collision repair, and other related services. Through its commercial vehicle operations, Penske Automotive Group serves businesses and fleet customers with heavy- and medium-duty trucks, parts and service support, and related transportation solutions.

The company serves customers primarily in the United States, the United Kingdom, Germany, Italy and Japan.