Penske Automotive Group, Inc. (NYSE:PAG) is reporting third quarter earnings results on Thursday 22nd October 2020, before market open.
The consensus estimates from Thomson Reuters are income of $ 1.56 per share.
For the full year, analysts predict revenues of $ 19935.00 million, while looking forward to income of $ 4.23 per share.
Previous Quarter Performance
Penske Automotive Group, Inc. unveiled income for the second quarter of $ 0.56 per share, from the revenue of $ 3,651.00 million. The quarterly earnings declined 60.56 percent while revenues reduced 36.57 percent compared with the same quarter last year.
Street analysts expected Penske Automotive Group, Inc. to report income of $ 0.54 per share on revenue of $ 4060.69 million for the second quarter. The bottom line results beat street analysts by $ 0.02 or 3.70 percent, at the same time, top line results fell short of analysts by $ 409.69 million or 10.09 percent.
Stock Performance
Shares of Penske Automotive Group, Inc. traded up $ 0.29 or 0.52 percent on Wednesday, reaching $ 56.39 with volume of 326.20 thousand shares. The stock opened positive for the day at $ 56.72, after closing the previous day trading at $ 56.10.
According to the previous trading day, closing price of $ 56.10, representing a 180.64 % increase from the 52 week low of $ 19.99 and a 3.46 % decrease over the 52 week high of $ 58.11.
The company has a market capital of $ 4.53 billion and is part of the Consumer Cyclical sector and Auto & Truck Dealerships industry.
Recent Analyst recommendations
- On 19th October 2020, initiated by Seaport Global Securities at Buy rating, with $ 60.00 target price.
- On 15th October 2020, maintained by Bank of America at Buy rating, with $ 70.00 target price.
Recent Stock Dividend Announcement
On October 14, 2020, the board of directors authorized quarterly dividend of $ 0.42 per share to holders of record as of the close of business on November 10, 2020, with payment date of December 1, 2020 and ex-dividend date on November 9, 2020.
Conference Call
Penske Automotive Group, Inc. will be hosting a conference call at 2:00 PM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.penskeautomotive.com
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.
