Analysts Set Penn National Gaming, Inc (PENN) Target Price at $36.40

Share on StockTwits

Shares of Penn National Gaming, Inc (NASDAQ:PENN) have received an average rating of “Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $36.40.

A number of analysts have commented on PENN shares. ValuEngine upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. TheStreet upgraded Penn National Gaming from a “c+” rating to a “b-” rating in a research report on Monday, May 21st. Nomura upped their price target on Penn National Gaming from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, May 24th. BidaskClub cut Penn National Gaming from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 2nd. Finally, JPMorgan Chase & Co. started coverage on Penn National Gaming in a research report on Friday, June 8th. They issued an “overweight” rating and a $40.00 price target for the company.

In other Penn National Gaming news, CEO Timothy J. Wilmott acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was purchased at an average price of $30.85 per share, with a total value of $3,085,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Saul Reibstein sold 6,694 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $35.00, for a total value of $234,290.00. Following the completion of the transaction, the director now directly owns 25,642 shares of the company’s stock, valued at approximately $897,470. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,330 shares of company stock valued at $8,037,760. Corporate insiders own 10.56% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Glenmede Trust Co. NA boosted its stake in Penn National Gaming by 12,755.2% during the second quarter. Glenmede Trust Co. NA now owns 1,103,877 shares of the company’s stock valued at $37,079,000 after buying an additional 1,095,290 shares during the last quarter. Millennium Management LLC boosted its stake in Penn National Gaming by 64.9% during the first quarter. Millennium Management LLC now owns 2,337,500 shares of the company’s stock valued at $61,383,000 after buying an additional 920,184 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Penn National Gaming by 47.7% during the second quarter. Bank of New York Mellon Corp now owns 2,547,091 shares of the company’s stock valued at $85,557,000 after buying an additional 823,049 shares during the last quarter. Hood River Capital Management LLC boosted its stake in Penn National Gaming by 149,643.6% during the second quarter. Hood River Capital Management LLC now owns 730,749 shares of the company’s stock valued at $24,546,000 after buying an additional 730,261 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in Penn National Gaming by 12.6% during the first quarter. Bamco Inc. NY now owns 6,481,736 shares of the company’s stock valued at $170,210,000 after buying an additional 723,929 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.

Penn National Gaming stock traded down $0.84 during mid-day trading on Friday, reaching $32.89. 36,128 shares of the stock traded hands, compared to its average volume of 1,020,322. The stock has a market cap of $3.18 billion, a PE ratio of 3.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.61. 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 12-month low of $22.20 and a 12-month high of $36.90.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, July 26th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $826.91 million during 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. sell-side analysts predict that Penn National Gaming will post 1.76 EPS for the current fiscal year.

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 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.

See Also: How Short Selling Works

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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.

Leave a Reply