Penske (PAG) Stock Barely Moves Since Q1 Earnings Miss

Shares of Penske Automotive Group (PAG) have hardly moved since the company reported first-quarter 2024 results. It reported first-quarter 2024 adjusted earnings of $3.19 per share, which decreased 26$3.35. The company registered net sales of $7.44 billion, which missed the Zacks Consensus Estimate of$7.45 billion. The top line, however, rose 1.5% from the year-ago quarter's level.Penske’s gross profit in the reported quarter declined 0.6% on a ye ...