Penn National Gaming (PENN) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Penn National Gaming (NASDAQ:PENN) from a sell rating to a hold rating in a research report sent to investors on Saturday.

PENN has been the topic of a number of other research reports. Zacks Investment Research upgraded Penn National Gaming from a sell rating to a strong-buy rating and set a $35.00 price target on the stock in a report on Wednesday, May 2nd. Deutsche Bank restated a buy rating and issued a $37.00 price target on shares of Penn National Gaming in a report on Sunday, April 29th. ValuEngine upgraded Penn National Gaming from a sell rating to a hold rating in a report on Friday, April 27th. Telsey Advisory Group upped their price target on Penn National Gaming from $33.00 to $40.00 and gave the stock an outperform rating in a report on Friday, April 27th. Finally, Morgan Stanley upped their price target on Penn National Gaming from $31.00 to $36.00 and gave the stock an equal weight rating in a report on Tuesday, June 26th. Six 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. Penn National Gaming presently has a consensus rating of Buy and an average price target of $36.27.

PENN opened at $33.82 on Friday. The company has a market capitalization of $2.91 billion, a P/E ratio of 3.77, a PEG ratio of 1.78 and a beta of 1.51. The company has a debt-to-equity ratio of 162.63, a quick ratio of 0.63 and a current ratio of 0.63. Penn National Gaming has a 1-year low of $20.05 and a 1-year high of $36.90.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, July 26th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $826.91 million for the quarter, compared to analysts’ expectations of $840.15 million. Penn National Gaming had a return on equity of 268.43% and a net margin of 18.02%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. equities research analysts forecast that Penn National Gaming will post 1.77 earnings per share for the current fiscal year.

In other Penn National Gaming news, CEO Timothy J. Wilmott sold 94,013 shares of the stock in a transaction on Friday, July 13th. The stock was sold at an average price of $36.43, for a total transaction of $3,424,893.59. Following the sale, the chief executive officer now owns 513,967 shares in the company, valued at approximately $18,723,817.81. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Carl Sottosanti sold 16,653 shares of the stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $34.09, for a total value of $567,700.77. Following the sale, the executive vice president now owns 52,489 shares in the company, valued at approximately $1,789,350.01. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 101,450 shares of company stock worth $3,132,336 and have sold 319,412 shares worth $11,217,893. 10.56% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC acquired a new stake in Penn National Gaming during the 2nd quarter valued at $128,000. Connable Office Inc. acquired a new stake in Penn National Gaming during the 2nd quarter valued at $208,000. Mackay Shields LLC acquired a new stake in Penn National Gaming during the 1st quarter valued at $247,000. PHH Investments Ltd. acquired a new stake in Penn National Gaming during the 2nd quarter valued at $252,000. Finally, Commonwealth Equity Services LLC acquired a new stake in Penn National Gaming during the 2nd quarter valued at $275,000. Hedge funds and other institutional investors own 98.70% of the company’s stock.

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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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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