Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Penske Automotive Group (PAG) Stock Price
Media stories about Penske Automotive Group (NYSE:PAG) have been trending somewhat positive on Monday, according to Accern Sentiment. The research group ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Penske Automotive Group earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned news stories about the company an impact score of 45.8355666975791 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern Sentiment’s rankings:
- PENSKE AUTOMOTIVE GROUP, INC. : Change in Directors or Principal Officers, Other Events, Financial Statements and Exhibits (form 8-K) (4-traders.com)
- Penske Automotive Group To Host Third Quarter Earnings Conference Call (finance.yahoo.com)
- BRIEF-Penske Automotive sets qtrly cash dividend of $0.33 per share (reuters.com)
- Penske Automotive raises quarterly dividend to 33 cents a share from 32 cents (finance.yahoo.com)
- Penske Automotive Group, Inc. (PAG) Declares Quarterly Dividend of $0.33 (americanbankingnews.com)
Penske Automotive Group (NYSE PAG) opened at 45.24 on Monday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 10.78 and a beta of 1.44. The company has a 50-day moving average of $44.78 and a 200 day moving average of $43.88. Penske Automotive Group has a 52-week low of $38.33 and a 52-week high of $56.05.
Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.07. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the prior year, the firm posted $1.11 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that Penske Automotive Group will post $4.30 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.92%. 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 is 30.55%.
A number of equities research analysts have issued reports on the stock. Berenberg Bank assumed coverage on shares of Penske Automotive Group in a report on Wednesday, October 4th. They set a “hold” rating and a $52.00 price target for the company. KeyCorp restated a “hold” rating on shares of Penske Automotive Group in a report on Wednesday, October 4th. ValuEngine upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Northcoast Research began coverage on shares of Penske Automotive Group in a research note on Thursday, September 28th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Penske Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $55.83.
In related news, EVP Claude H. Denker III sold 5,000 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 40.70% of the company’s stock.
About Penske Automotive Group
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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