Penske Automotive Group (PAG) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $1.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.09. The company posted revenue of $5254.10 million in the period, compared to analysts expectations of $5189.47 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.
Many Wall Street Analysts have commented on Penske Automotive Group. Penske Automotive Group was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Jun 28, 2016.
Penske Automotive Group opened for trading at $36.43 and hit $38.7 on the upside on Thursday, eventually ending the session at $37.12, with a gain of 4.12% or 1.47 points. The heightened volatility saw the trading volume jump to 12,93,023 shares. Company has a market cap of $3,167 M.
In a different news, on Jun 2, 2015, Roger S Penske (Chairman & CEO) sold 71,874 shares at $50.19 per share price. According to the SEC, on Jun 2, 2015, Calvin Sharp (EVP – Human Resources) sold 2,261 shares at $51.25 per share price. On Jun 2, 2015, Shane M. Spradlin (EVP, Gen. Counsel & Sec.) sold 4,203 shares at $51.14 per share price, according to the Form-4 filing with the securities and exchange commission.
Penske Automotive Group Inc. is a transportation services company that operates automotive and commercial vehicle dealerships in the United States and Western Europe. The Company distributes commercial vehicles diesel engines gas engines power systems and related parts and services in Australia and New Zealand. The Company operates in two segments: Retail Automotive which includes the Companys retail automotive dealership operations and Other which include the Companys retail commercial vehicle dealership operations commercial vehicle distribution operations and its investments in non-automotive retail operations. The individual dealership operations of Retail Automotive segment operates in four geographic regions: Eastern Central Western United States and International. As of December 31 2014 the Company operated 327 automotive retail franchises of which 179 franchises are located in the United States and 148 franchises are located outside of the United States.