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Penske Automotive Group, Inc. (PAG)

  • Nov. 2, 2012, 7:38 AM
    Penske Automotive (PAG): Q3 EPS of $0.60 beats by $0.03. Revenue of $3.4B (+17.4% Y/Y) beats by $130M. (PR)
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  • Oct. 18, 2012, 5:05 PM
    Penske Automotive (PAG): declares $0.13/share quarterly dividend, 8.3% increase from prior dividend of $0.13. Forward yield 1.68%. For shareholders of record Nov 12. Payable Dec 03. Ex-div date Nov 08. (PR)
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  • Aug. 15, 2012, 7:31 AM
    Penske Automotive Group (PAG) prices at par a $575M offering of 10-year senior notes with a 5.75% coupon. The private offering was upsized from $400M by the company and will be used to pay off its debt.
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  • Jul. 31, 2012, 9:15 AM
    Penske Auto (PAG): Q2 EPS of $0.55 beats by $0.02. Revenue of $3.4B (+19.2% Y/Y) beats by $0.13B. (PR)
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  • Apr. 25, 2012, 7:21 AM
    Penske Automotive (PAG): Q1 EPS of $0.55 beats by $0.07. Revenue of $3.24B (+17.9% Y/Y) beats by $160M. (PR)
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  • Apr. 3, 2012, 12:32 PM
    Buckingham Research hikes its ratings to Buy on auto retailers Group 1 (GPI +4.4%), Asbury (ABG +3.7%) and Penske (PAG +4.3%) as the best way to play a recovery in U.S. light vehicle sales. "Auto retailers tend to experience strong stock performance during the second quarter, with auto retailer stocks increasing 20% on average during the 2002-2011 period."
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  • Apr. 3, 2012, 10:59 AM
    A number of auto industry-related stocks are running hot amid reports from manufacturers of brisk March auto sales. Advancers: ABG +4.4%, GPI +4.3%, PAG +5.0%, SAH +4.3%, LAD +2.4%.
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  • Mar. 14, 2012, 4:19 PM
    Penske Automotive (PAG +2.8%) finishes the day higher after Sterne Agee raised its 2012 estimates earlier, citing recent acquisitions, a lower share count and continued improvement in U.S. demand. The firm maintains its Buy rating.
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  • Feb. 16, 2012, 11:56 AM
    Gabelli says Penske Automotive (PAG +1.2%)  is still undervalued even at these lofty levels, and should be bought on weakness. Despite flat same-store new unit sales, the firm notes that net profit was up 67% Y/Y on higher overall sales and better pricing, and maintains a Buy rating on the stock.
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  • Feb. 15, 2012, 7:54 AM
    Penske Automotive (PAG): Q4 EPS of $0.47 beats by $0.07. Revenue of $2.96B (+10.8% Y/Y) in-line. (PR)
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  • Jan. 12, 2012, 2:41 PM
    Penske Automotive (PAG +1.9%) expands its U.K. presence with the acquisition a number of dealerships in Belfast from the Isaac Agnew Group. Terms were not disclosed, but the company says the dealerships are expected to contribute approximately $500M in annualized revenue.
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  • Dec. 21, 2011, 8:44 AM
    Penske Automotive Group (PAG) enters into a £110M ($172M) credit facility in the U.K. with Royal Bank of Scotland and BMW Financial Services that it says will used to provide it with enough capital to support continued "growth and flexibility" in the region.
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  • Nov. 2, 2011, 1:26 PM
    Shares of Penske Automotive Group (PAG) shoot up 9.6% after the automotive retailer shows better-than-expected Q3 profits led by a 16% Y/Y gain in used unit retail sales. CEO Roger Penske says the firm should fully recover to normal production in Q1 after the Japan natural disaster disrupted the supply chain since March.
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  • Aug. 1, 2011, 1:47 PM
    Used car sales exploded 13.5% Y/Y last month, the best July since 2005, and the run may not be finished, FusionIQ writes, favoring Penske (PAG -3.3%), Asbury (ABG +0.2%) and Group 1 (GPI -2.2%) in the sector. All three may need to consolidate or pull back a bit to work off short-term oversold conditions, but Fusion doesn't expect shares to pull back much.
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  • Oct. 31, 2010, 6:52 PM
    While car sales and auto stocks have turned the corner, Barron's thinks Penske (PAG) has been left behind. Investors are fixated on Penske's skew toward luxury vehicles, but PAG executives claim the recovery is stronger at the top end, noting that, "buyers in the category aren't so financially challenged."
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  • Oct. 6, 2010, 9:06 AM
    Car dealership chain Penske (PAG) reaches an agreement with Nissan (NSANY.PK) to sell a Nissan-made small car in the U.S. market under the Smart brand name. Penske already sells the two-passenger Smart ForTwo minicar made by Daimler (DAI) and wants to add a second model to the line in hopes of boosting sales.
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Company Description
Penske Automotive Group Inc is a transportation services company. It operates automotive and commercial vehicle dealership in the United States and Western Europe & distributes commercial vehicles, diesel engines and related parts.
Sector: Services
Country: United States