Penske Automotive Group, Inc. (NYSE:PAG) Raises Dividend to $1.38 Per Share

Key Points

• Penske Automotive Group has increased its quarterly dividend by 4.5% to $1.38 per share, set to be paid on December 2nd to shareholders recorded by November 14th.
• The company reports a payout ratio of 34.9%, indicating that its dividend is covered by earnings, with expected earnings of $14.38 per share next year.
• Penske Automotive Group's stock has experienced a 1.6% decline recently, with shares trading at $171.09 after reaching a 52-week high of $189.51.

Penske Automotive Group, Inc. (NYSE:PAG - Get Free Report) announced a quarterly dividend on Wednesday, October 15th. Shareholders of record on Friday, November 14th will be paid a dividend of 1.38 per share on Tuesday, December 2nd. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. This is a 4.5% increase from Penske Automotive Group's previous quarterly dividend of $1.32.

Penske Automotive Group has a payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Penske Automotive Group to earn $14.38 per share next year, which means the company should continue to be able to cover its $5.04 annual dividend with an expected future payout ratio of 35.0%.

Penske Automotive Group Stock Down 1.6%

Shares of NYSE:PAG opened at $171.09 on Thursday. Penske Automotive Group has a 52 week low of $134.05 and a 52 week high of $189.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.21 and a current ratio of 0.90. The company has a market capitalization of $11.30 billion, a PE ratio of 11.91 and a beta of 0.88. The company has a 50 day moving average price of $178.70 and a two-hundred day moving average price of $169.13.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $3.78 EPS for the quarter, beating the consensus estimate of $3.56 by $0.22. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.98 billion. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.61 earnings per share. Analysts forecast that Penske Automotive Group will post 13.86 earnings per share for the current year.

Penske Automotive Group Company Profile

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.

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