Penn National Gaming, Inc (NASDAQ:PENN) – Stock analysts at SunTrust Banks cut their FY2019 earnings per share estimates for Penn National Gaming in a research report issued to clients and investors on Thursday. SunTrust Banks analyst P. Scholes now anticipates that the company will post earnings per share of $1.82 for the year, down from their previous estimate of $1.88.
Several other analysts have also recently issued reports on the company. Morgan Stanley cut their target price on Penn National Gaming from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday. Deutsche Bank cut their target price on Penn National Gaming from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Group reiterated a “buy” rating and set a $35.00 target price on shares of Penn National Gaming in a research report on Tuesday, February 6th. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research report on Tuesday, January 9th. Finally, BidaskClub cut Penn National Gaming from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 5th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Penn National Gaming has a consensus rating of “Buy” and an average target price of $29.09.
Penn National Gaming (NASDAQ PENN) traded up $0.27 during trading hours on Monday, hitting $27.83. The company had a trading volume of 1,829,600 shares, compared to its average volume of 1,195,397. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. Penn National Gaming has a 12-month low of $13.73 and a 12-month high of $33.30. The stock has a market capitalization of $2,512.44, a PE ratio of 5.28 and a beta of 1.05.
Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, February 8th. The company reported ($3.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($3.58). Penn National Gaming had a negative return on equity of 22.76% and a net margin of 15.97%. The business had revenue of $769.00 million for the quarter, compared to analysts’ expectations of $766.82 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Teachers Advisors LLC grew its holdings in Penn National Gaming by 15.6% during the 2nd quarter. Teachers Advisors LLC now owns 157,473 shares of the company’s stock valued at $3,370,000 after buying an additional 21,222 shares in the last quarter. Amalgamated Bank grew its holdings in Penn National Gaming by 3.8% during the 2nd quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock valued at $235,000 after buying an additional 405 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in Penn National Gaming by 137.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 50,407 shares of the company’s stock valued at $1,079,000 after buying an additional 29,209 shares in the last quarter. Northern Trust Corp grew its holdings in Penn National Gaming by 7.9% during the 2nd quarter. Northern Trust Corp now owns 1,035,140 shares of the company’s stock valued at $22,152,000 after buying an additional 76,123 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Penn National Gaming by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,344,994 shares of the company’s stock valued at $157,183,000 after buying an additional 405,172 shares in the last quarter. Institutional investors and hedge funds own 97.32% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “FY2019 Earnings Forecast for Penn National Gaming, Inc (PENN) Issued By SunTrust Banks” was posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://transcriptdaily.com/2018/02/13/fy2019-earnings-forecast-for-penn-national-gaming-inc-penn-issued-by-suntrust-banks.html.
Penn National Gaming Company Profile
Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
Receive News & Ratings for Penn National Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming and related companies with MarketBeat.com's FREE daily email newsletter.