Penske Automotive (PAG) Stock Moves -0.06%: What You Should Know
Penske Automotive (PAG) closed the most recent trading day at $124.61, moving -0.06% from the previous trading session. This change was narrower than the S&P 500's 1.3% loss on the day. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Coming into today, shares of the auto dealership chain had gained 8.49% in the past month. In that same time, the Retail-Wholesale sector gained 11.37%, while the S&P 500 gained 6.41%.
Investors will be hoping for strength from Penske Automotive as it approaches its next earnings release, which is expected to be February 8, 2023. On that day, Penske Automotive is projected to report earnings of $4.05 per share, which would represent a year-over-year decline of 1.22%. Meanwhile, our latest consensus estimate is calling for revenue of $6.39 billion, up 1.43% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Penske Automotive. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.87% lower. Penske Automotive currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Penske Automotive has a Forward P/E ratio of 8.29 right now. This valuation marks a premium compared to its industry's average Forward P/E of 7.2.
Meanwhile, PAG's PEG ratio is currently 1.83. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Automotive - Retail and Whole Sales stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Automotive - Retail and Whole Sales industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Penske Automotive Group, Inc. (PAG) : Free Stock Analysis Report
