Wall Street analysts expect Penske Automotive (PAG) to post quarterly earnings of $3.37 per share in its upcoming report, which indicates a year-over-year decline of 2.3%. Revenues are expected to be $7.56 billion, up 4% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Penske metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Revenue- Retail Automotive- Fleet and Wholesale' should arrive at $355.03 million. The estimate suggests a change of +7.5% year over year.
Analysts predict that the 'Revenue- Commercial Vehicle Distribution and Other' will reach $199.32 million. The estimate suggests a change of +5.2% year over year.
Analysts expect 'Revenue- Retail Automotive- Service and Parts' to come in at $765.06 million. The estimate points to a change of +12.4% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Retail Automotive- Finance and Insurance, Net' will reach $213.63 million. The estimate suggests a change of +2.9% year over year.
According to the collective judgment of analysts, 'Retail Commercial Truck Units - Total' should come in at 5,848. The estimate is in contrast to the year-ago figure of 5,409.
The combined assessment of analysts suggests that 'Retail Commercial Truck Units - Used Retail' will likely reach 943. The estimate compares to the year-ago value of 896.
The consensus among analysts is that 'Retail Commercial Truck Units - New Retail' will reach 4,906. Compared to the current estimate, the company reported 4,513 in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Retail Automotive Units - Used Retail' of 57,087. Compared to the current estimate, the company reported 57,490 in the same quarter of the previous year.
The average prediction of analysts places 'Retail Automotive Gross Profit Per Vehicle Retailed - Used Vehicles' at $1,745.35. Compared to the current estimate, the company reported $1,448 in the same quarter of the previous year.
Analysts forecast 'Retail Commercial Truck Revenue Per Vehicle Retailed - New Vehicles' to reach $135,211.90. Compared to the current estimate, the company reported $137,197 in the same quarter of the previous year.
The consensus estimate for 'Retail Automotive Revenue Per Vehicle Retailed - Used Vehicles' stands at $33,736.52. The estimate is in contrast to the year-ago figure of $34,266.
Analysts' assessment points toward 'Retail Automotive Gross Profit Per Vehicle Retailed - New Vehicles' reaching $5,507.95. Compared to the present estimate, the company reported $5,531 in the same quarter last year.
View all Key Company Metrics for Penske here>>>
Over the past month, Penske shares have recorded returns of +9.5% versus the Zacks S&P 500 composite's +2.1% change. Based on its Zacks Rank #3 (Hold), PAG will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Penske Automotive Group, Inc. (PAG) : Free Stock Analysis Report
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