Wall Street brokerages expect Penn National Gaming, Inc (NASDAQ:PENN) to post earnings per share of $0.39 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Penn National Gaming’s earnings, with the lowest EPS estimate coming in at ($0.10) and the highest estimate coming in at $0.71. Penn National Gaming posted earnings per share of $0.38 in the same quarter last year, which would suggest a positive year over year growth rate of 2.6%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, October 29th.
According to Zacks, analysts expect that Penn National Gaming will report full year earnings of ($5.60) per share for the current financial year, with EPS estimates ranging from ($6.32) to ($5.04). For the next year, analysts anticipate that the firm will report earnings of $1.42 per share, with EPS estimates ranging from $0.87 to $1.91. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, August 6th. The company reported ($1.69) EPS for the quarter, beating the consensus estimate of ($2.06) by $0.37. The company had revenue of $305.50 million during the quarter, compared to analysts’ expectations of $242.94 million. Penn National Gaming had a negative net margin of 21.16% and a negative return on equity of 15.63%. The business’s revenue for the quarter was down 76.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.
A number of research firms recently commented on PENN. Stifel Nicolaus upped their price objective on shares of Penn National Gaming from $47.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Craig Hallum upped their price objective on shares of Penn National Gaming from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, September 30th. Truist upped their price objective on shares of Penn National Gaming from $50.00 to $62.00 in a research report on Tuesday, August 18th. SunTrust Banks upped their price objective on shares of Penn National Gaming from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Macquarie cut shares of Penn National Gaming from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $56.00 to $66.00 in a research report on Thursday, September 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $63.75.
Shares of Penn National Gaming stock traded up $1.57 on Tuesday, hitting $70.91. 7,554,678 shares of the company’s stock traded hands, compared to its average volume of 10,027,867. The firm’s 50-day moving average price is $64.48 and its two-hundred day moving average price is $38.00. The stock has a market capitalization of $11.00 billion, a PE ratio of -9.62 and a beta of 2.84. Penn National Gaming has a one year low of $3.75 and a one year high of $76.62. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.99 and a quick ratio of 1.99.
In other news, CAO Christine Labombard sold 13,400 shares of the company’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $66.36, for a total value of $889,224.00. Following the sale, the chief accounting officer now directly owns 19,052 shares of the company’s stock, valued at approximately $1,264,290.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Carl Sottosanti sold 66,281 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $47.09, for a total transaction of $3,121,172.29. Following the completion of the sale, the executive vice president now directly owns 152,829 shares in the company, valued at $7,196,717.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,221 shares of company stock valued at $5,973,002. Company insiders own 1.81% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Modus Advisors LLC raised its holdings in shares of Penn National Gaming by 4.0% in the 3rd quarter. Modus Advisors LLC now owns 6,092 shares of the company’s stock valued at $443,000 after purchasing an additional 233 shares during the period. Signaturefd LLC raised its holdings in shares of Penn National Gaming by 89.5% in the 2nd quarter. Signaturefd LLC now owns 813 shares of the company’s stock valued at $25,000 after purchasing an additional 384 shares during the period. Nachman Norwood & Parrott Inc bought a new stake in shares of Penn National Gaming in the 3rd quarter valued at about $36,000. Private Capital Group LLC raised its holdings in shares of Penn National Gaming by 132.8% in the 2nd quarter. Private Capital Group LLC now owns 1,257 shares of the company’s stock valued at $38,000 after purchasing an additional 717 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Penn National Gaming by 69.8% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,825 shares of the company’s stock valued at $132,000 after purchasing an additional 750 shares during the period. 87.81% of the stock is currently owned by institutional investors.
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.
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