Brokerages predict that Gaming and Leisure Properties Inc (NASDAQ:GLPI) will announce $288.12 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Gaming and Leisure Properties’ earnings, with the highest sales estimate coming in at $288.60 million and the lowest estimate coming in at $287.98 million. Gaming and Leisure Properties reported sales of $254.14 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, October 31st.
According to Zacks, analysts expect that Gaming and Leisure Properties will report full year sales of $1.15 billion for the current fiscal year. For the next fiscal year, analysts expect that the company will post sales of $1.16 billion, with estimates ranging from $1.15 billion to $1.17 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Gaming and Leisure Properties.
Gaming and Leisure Properties (NASDAQ:GLPI) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.33). Gaming and Leisure Properties had a net margin of 29.69% and a return on equity of 14.98%. The business had revenue of $289.01 million for the quarter, compared to analysts’ expectations of $289.64 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis.
GLPI has been the topic of a number of research analyst reports. BidaskClub downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Deutsche Bank restated a “buy” rating and set a $45.00 price target on shares of Gaming and Leisure Properties in a report on Wednesday, October 16th. ValuEngine downgraded Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley set a $47.00 price target on Gaming and Leisure Properties and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Nomura set a $42.00 price target on Gaming and Leisure Properties and gave the company a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $43.33.
In other news, SVP Matthew Demchyk bought 5,000 shares of Gaming and Leisure Properties stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $37.57 per share, for a total transaction of $187,850.00. Following the acquisition, the senior vice president now owns 42,500 shares of the company’s stock, valued at $1,596,725. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.05% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Lenox Wealth Advisors LLC bought a new stake in shares of Gaming and Leisure Properties in the 3rd quarter worth approximately $32,000. MUFG Americas Holdings Corp bought a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $38,000. DekaBank Deutsche Girozentrale boosted its position in shares of Gaming and Leisure Properties by 237.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,616 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,840 shares in the last quarter. Altshuler Shaham Ltd boosted its position in shares of Gaming and Leisure Properties by 122.2% in the 2nd quarter. Altshuler Shaham Ltd now owns 2,682 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 1,475 shares in the last quarter. Finally, Bessemer Group Inc. bought a new stake in shares of Gaming and Leisure Properties in the 2nd quarter worth approximately $119,000. Hedge funds and other institutional investors own 89.31% of the company’s stock.
NASDAQ:GLPI traded up $0.10 during mid-day trading on Wednesday, reaching $39.43. 850,800 shares of the company’s stock traded hands, compared to its average volume of 1,123,827. Gaming and Leisure Properties has a 12-month low of $31.19 and a 12-month high of $40.82. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.30 and a beta of 0.51. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.80 and a quick ratio of 4.80. The company has a 50 day moving average price of $38.62 and a 200-day moving average price of $38.99.
About Gaming and Leisure Properties
GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.
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