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Penske Automotive Group Inc (NYSE:PAG) stock soared to a 52-week high, reaching a price level of $180.0, signaling strong investor confidence in the company’s performance and growth prospects. According to InvestingPro data, the company maintains a "GOOD" overall financial health score, with particularly strong momentum and profitability metrics. This impressive milestone reflects a significant 14.4% increase in the stock’s value over the past year, underscoring the company’s resilience and adaptability in a dynamic automotive market. The company has demonstrated consistent shareholder returns, maintaining dividend payments for 14 consecutive years with a current yield of 2.89%. Investors have been closely monitoring PAG’s strategic initiatives and operational efficiency, which have evidently paid off, propelling the stock to new heights within its yearly trading range. For deeper insights into PAG’s valuation and growth potential, InvestingPro subscribers can access comprehensive analysis and additional ProTips.
In other recent news, Penske Automotive Group, Inc. reported a record-breaking fourth-quarter revenue that surpassed analyst expectations. The company announced fourth-quarter earnings per share of $3.54, exceeding the analyst estimate of $3.29. Revenue for the quarter reached a record high of $7.72 billion, a 6% increase from the previous year and surpassing the consensus estimate of $7.58 billion.
The company’s same-store retail automotive service and parts revenue saw a 7% YoY growth, with a related gross profit increase of 9%. New and used retail automotive units delivered also saw a 3% increase compared to the fourth quarter of the previous year. The company’s service and parts business continued to show strength, with retail automotive service and parts gross margin expanding by 30 basis points.
For the full year, Penske Automotive reported a 3% increase in total revenue to $30.5 billion, with retail automotive service and parts revenue growing 11% to over $3 billion, an all-time record. The company’s board of directors declared the 17th consecutive increase in the quarterly dividend to $1.22 per share, reflecting confidence in Penske’s financial performance and outlook. These are the recent developments for Penske Automotive.
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