Equities analysts predict that Penn National Gaming, Inc (NASDAQ:PENN) will post sales of $1.37 billion for the current quarter, according to Zacks. Five analysts have made estimates for Penn National Gaming’s earnings. The lowest sales estimate is $1.37 billion and the highest is $1.39 billion. Penn National Gaming reported sales of $789.65 million in the same quarter last year, which indicates a positive year over year growth rate of 73.5%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that Penn National Gaming will report full year sales of $5.34 billion for the current year, with estimates ranging from $5.33 billion to $5.35 billion. For the next financial year, analysts forecast that the business will post sales of $5.57 billion, with estimates ranging from $5.53 billion to $5.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Penn National Gaming had a return on equity of 9.76% and a net margin of 1.90%. Penn National Gaming’s revenue was up 60.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS.
Several research firms have weighed in on PENN. Deutsche Bank reiterated a “buy” rating and set a $27.00 price objective on shares of Penn National Gaming in a research report on Sunday, August 4th. Union Gaming Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Susquehanna Bancshares began coverage on shares of Penn National Gaming in a research note on Wednesday, July 24th. They issued a “positive” rating and a $25.00 target price on the stock. Wolfe Research began coverage on shares of Penn National Gaming in a research note on Friday, June 14th. They set a “peer perform” rating on the stock. Finally, BidaskClub raised shares of Penn National Gaming from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $30.02.
In other Penn National Gaming news, Director David A. Handler bought 30,000 shares of Penn National Gaming stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $17.68 per share, with a total value of $530,400.00. Following the acquisition, the director now directly owns 169,870 shares of the company’s stock, valued at approximately $3,003,301.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.53% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PENN. Bessemer Group Inc. bought a new position in Penn National Gaming during the second quarter valued at about $29,000. MUFG Americas Holdings Corp purchased a new stake in Penn National Gaming in the second quarter valued at approximately $34,000. Quantamental Technologies LLC bought a new position in Penn National Gaming during the second quarter valued at approximately $57,000. Manchester Capital Management LLC bought a new position in Penn National Gaming during the first quarter valued at approximately $63,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in shares of Penn National Gaming in the fourth quarter worth approximately $101,000. Institutional investors and hedge funds own 96.62% of the company’s stock.
Penn National Gaming stock traded down $0.19 during mid-day trading on Thursday, hitting $18.20. The company’s stock had a trading volume of 1,570,300 shares, compared to its average volume of 1,902,098. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 5.65. The firm has a market capitalization of $2.15 billion, a PE ratio of 19.57, a P/E/G ratio of 1.17 and a beta of 1.73. Penn National Gaming has a twelve month low of $17.30 and a twelve month high of $35.36. The firm’s fifty day simple moving average is $18.80.
About Penn National Gaming
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 four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.
See Also: What is a Lock-Up Period?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.