Penske Automotive Group Inc
PAG: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $256.00 | Lchfgs | Kxvxdgtj |
Penske Starts 2022 With Its Best Quarter Yet
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Penske Automotive Group started 2022 by posting an all-time record quarter with diluted EPS more than doubling year over year to $4.76, beating the Refinitiv consensus of $3.77. We plan to increase our fair value estimate by at least about 5% from $104 due to time value of money and more equity income growth for 2022 than we were previously modeling. Equity income rose by 115.9% in the first quarter, which is normally the weakest quarter for the firm’s equity method investments (mostly its 28.9% stake in Penske Transportation Solutions).