Penn National Gaming, Inc. (NASDAQ:PENN) Receives Consensus Rating of “Buy” from Brokerages

Penn National Gaming, Inc. (NASDAQ:PENN) has earned an average recommendation of “Hold” from the twenty-two ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $107.06.

A number of analysts have weighed in on PENN shares. Needham & Company LLC started coverage on shares of Penn National Gaming in a report on Monday, April 26th. They set a “buy” rating and a $151.00 price objective on the stock. TheStreet upgraded shares of Penn National Gaming from a “d+” rating to a “c” rating in a research report on Monday, May 10th. JPMorgan Chase & Co. raised their target price on shares of Penn National Gaming from $134.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, March 1st. Zacks Investment Research lowered shares of Penn National Gaming from a “hold” rating to a “strong sell” rating and set a $86.00 target price on the stock. in a research report on Thursday, April 15th. Finally, Redburn Partners began coverage on shares of Penn National Gaming in a research report on Tuesday, April 27th. They set a “buy” rating on the stock.

In other news, CEO Jay A. Snowden sold 71,540 shares of Penn National Gaming stock in a transaction on Monday, March 15th. The stock was sold at an average price of $140.61, for a total transaction of $10,059,239.40. Following the completion of the transaction, the chief executive officer now owns 263,139 shares of the company’s stock, valued at approximately $36,999,974.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in PENN. Norges Bank acquired a new position in shares of Penn National Gaming during the 4th quarter worth $117,679,000. Geode Capital Management LLC raised its stake in shares of Penn National Gaming by 40.3% during the 1st quarter. Geode Capital Management LLC now owns 3,386,546 shares of the company’s stock worth $354,592,000 after buying an additional 972,871 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Penn National Gaming by 179.3% during the 1st quarter. Fred Alger Management LLC now owns 1,404,741 shares of the company’s stock worth $147,273,000 after buying an additional 901,788 shares during the last quarter. Tybourne Capital Management HK Ltd. raised its stake in shares of Penn National Gaming by 67.1% during the 4th quarter. Tybourne Capital Management HK Ltd. now owns 1,229,800 shares of the company’s stock worth $106,218,000 after buying an additional 494,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Penn National Gaming by 30.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,858,948 shares of the company’s stock worth $194,892,000 after buying an additional 430,912 shares during the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

NASDAQ:PENN traded up $1.72 during mid-day trading on Friday, hitting $83.49. The stock had a trading volume of 145,294 shares, compared to its average volume of 4,828,234. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 2.33. Penn National Gaming has a twelve month low of $26.96 and a twelve month high of $142.00. The firm’s 50-day simple moving average is $88.54. The company has a market capitalization of $13.05 billion, a P/E ratio of -584.03 and a beta of 2.57.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, May 6th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.25. Penn National Gaming had a net margin of 0.81% and a return on equity of 1.27%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned ($5.26) earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts anticipate that Penn National Gaming will post 2.4 EPS for the current fiscal year.

About Penn National Gaming

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through four segments: Northeast, South, West, and Midwest. The company operates live sports betting properties in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, Nevada, Pennsylvania, and West Virginia; Barstool Sports, an online sports betting app in Pennsylvania; and online social casino, bingo, and online casinos under the iGaming name in Pennsylvania and Michigan.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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