In its upcoming report, Penske Automotive (PAG) is predicted by Wall Street analysts to post quarterly earnings of $3.19 per share, reflecting a decline of 9.9% compared to the same period last year. Revenues are forecasted to be $7.64 billion, representing a year-over-year decrease of 1%.
The current level reflects an upward revision of 2.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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.
The consensus among analysts is that 'Revenue- Retail Automotive' will reach $6.69 billion. The estimate indicates a year-over-year change of -0.5%.
Analysts expect 'Revenue- Commercial Vehicle Distribution and Other' to come in at $240.56 million. The estimate indicates a year-over-year change of +7.3%.
Analysts' assessment points toward 'Revenue- Retail Automotive- Service and Parts' reaching $820.12 million. The estimate points to a change of +6.4% from the year-ago quarter.
Analysts predict that the 'Revenue- Retail Automotive- Finance and Insurance, Net' will reach $194.48 million. The estimate indicates a change of -4.3% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Retail Commercial Truck Revenue Per Vehicle Retailed - New Vehicles' of $144449.60 . The estimate is in contrast to the year-ago figure of $139570.00 .
It is projected by analysts that the 'Retail Commercial Truck Units - Total' will reach 3,826 . Compared to the present estimate, the company reported 4,432 in the same quarter last year.
Based on the collective assessment of analysts, 'Retail Automotive Units - Used Retail' should arrive at 50,882 . The estimate is in contrast to the year-ago figure of 54,034 .
The average prediction of analysts places 'Retail Automotive Gross Profit Per Vehicle Retailed - New Vehicles' at $4928.79 . Compared to the present estimate, the company reported $5146.00 in the same quarter last year.
The combined assessment of analysts suggests that 'Retail Commercial Truck Units - Used Retail' will likely reach 790 . The estimate is in contrast to the year-ago figure of 888 .
According to the collective judgment of analysts, 'Retail Commercial Truck Revenue Per Vehicle Retailed - Used Vehicles' should come in at $52932.43 . Compared to the current estimate, the company reported $62891.00 in the same quarter of the previous year.
Analysts forecast 'Retail Automotive Revenue Per Vehicle Retailed - Used Vehicles' to reach $39382.05 . Compared to the current estimate, the company reported $37657.00 in the same quarter of the previous year.
The consensus estimate for 'Retail Commercial Truck Units - New Retail' stands at 3,036 . Compared to the current estimate, the company reported 3,544 in the same quarter of the previous year.
View all Key Company Metrics for Penske here>>>
Over the past month, shares of Penske have returned +1% versus the Zacks S&P 500 composite's no change. Currently, PAG carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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