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Penske Automotive (PAG) Gains As Market Dips: What You Should Know
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Penske Automotive (PAG - Free Report) closed at $93.19 in the latest trading session, marking a +0.71% move from the prior day. This move outpaced the S&P 500's daily loss of 0.97%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.49%.
Prior to today's trading, shares of the auto dealership chain had lost 7.24% over the past month. This has lagged the Retail-Wholesale sector's gain of 5.34% and the S&P 500's gain of 4.71% in that time.
Investors will be hoping for strength from Penske Automotive as it approaches its next earnings release. In that report, analysts expect Penske Automotive to post earnings of $3.93 per share. This would mark year-over-year growth of 73.89%. Meanwhile, our latest consensus estimate is calling for revenue of $6.22 billion, up 7.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.03 per share and revenue of $26.87 billion. These totals would mark changes of -1.64% and +5.14%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Penske Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.88% higher. Penske Automotive is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Penske Automotive currently has a Forward P/E ratio of 6.16. For comparison, its industry has an average Forward P/E of 6.16, which means Penske Automotive is trading at a no noticeable deviation to the group.
Meanwhile, PAG's PEG ratio is currently 0.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Retail and Whole Sales was holding an average PEG ratio of 0.35 at yesterday's closing price.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PAG in the coming trading sessions, be sure to utilize Zacks.com.
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Penske Automotive (PAG) Gains As Market Dips: What You Should Know
Penske Automotive (PAG - Free Report) closed at $93.19 in the latest trading session, marking a +0.71% move from the prior day. This move outpaced the S&P 500's daily loss of 0.97%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.49%.
Prior to today's trading, shares of the auto dealership chain had lost 7.24% over the past month. This has lagged the Retail-Wholesale sector's gain of 5.34% and the S&P 500's gain of 4.71% in that time.
Investors will be hoping for strength from Penske Automotive as it approaches its next earnings release. In that report, analysts expect Penske Automotive to post earnings of $3.93 per share. This would mark year-over-year growth of 73.89%. Meanwhile, our latest consensus estimate is calling for revenue of $6.22 billion, up 7.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.03 per share and revenue of $26.87 billion. These totals would mark changes of -1.64% and +5.14%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Penske Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.88% higher. Penske Automotive is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Penske Automotive currently has a Forward P/E ratio of 6.16. For comparison, its industry has an average Forward P/E of 6.16, which means Penske Automotive is trading at a no noticeable deviation to the group.
Meanwhile, PAG's PEG ratio is currently 0.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Retail and Whole Sales was holding an average PEG ratio of 0.35 at yesterday's closing price.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PAG in the coming trading sessions, be sure to utilize Zacks.com.