Wall Street brokerages expect Penn National Gaming, Inc (NASDAQ:PENN) to post earnings per share of $0.43 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Penn National Gaming’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.42. Penn National Gaming reported earnings of $0.27 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 59.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Penn National Gaming will report full year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.70 to $1.77. For the next year, analysts expect that the company will post earnings of $1.99 per share, with EPS estimates ranging from $1.79 to $2.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The company had revenue of $826.91 million during the quarter, compared to analyst estimates of $840.15 million. Penn National Gaming had a net margin of 18.02% and a return on equity of 268.43%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share.
Several analysts have recently weighed in on the stock. ValuEngine lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. BidaskClub lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Morgan Stanley increased their price target on shares of Penn National Gaming from $31.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 26th. JPMorgan Chase & Co. initiated coverage on shares of Penn National Gaming in a research note on Friday, June 8th. They set an “overweight” rating and a $40.00 price target on the stock. Finally, Jefferies Financial Group set a $40.00 price target on shares of Penn National Gaming and gave the company a “buy” rating in a research note on Friday, July 27th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $36.45.
NASDAQ PENN opened at $32.25 on Monday. The company has a market cap of $2.99 billion, a PE ratio of 3.59, a PEG ratio of 1.85 and a beta of 1.60. The company has a debt-to-equity ratio of 162.63, a current ratio of 0.63 and a quick ratio of 0.63. Penn National Gaming has a 1-year low of $22.74 and a 1-year high of $36.90.
In other Penn National Gaming news, CEO Timothy J. Wilmott sold 17,536 shares of the firm’s stock in a transaction that occurred on Friday, July 6th. The shares were sold at an average price of $35.05, for a total value of $614,636.80. Following the transaction, the chief executive officer now directly owns 530,403 shares of the company’s stock, valued at $18,590,625.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Saul Reibstein sold 6,694 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $35.00, for a total transaction of $234,290.00. Following the completion of the transaction, the director now directly owns 25,642 shares in the company, valued at $897,470. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,134 shares of company stock worth $6,909,612. Insiders own 10.56% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC bought a new position in Penn National Gaming in the second quarter valued at approximately $128,000. Connable Office Inc. bought a new position in Penn National Gaming in the second quarter valued at approximately $208,000. PHH Investments Ltd. bought a new position in shares of Penn National Gaming during the second quarter worth $252,000. Commonwealth Equity Services LLC bought a new position in shares of Penn National Gaming during the second quarter worth $275,000. Finally, Mackay Shields LLC bought a new position in shares of Penn National Gaming during the first quarter worth $247,000. 98.95% of the stock is currently owned by hedge funds and other institutional investors.
Penn National Gaming Company Profile
Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.
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