Zacks: Brokerages Anticipate Penn National Gaming, Inc (PENN) to Announce $0.44 Earnings Per Share

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Equities research analysts forecast that Penn National Gaming, Inc (NASDAQ:PENN) will report earnings of $0.44 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Penn National Gaming’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.42. Penn National Gaming posted earnings of $0.27 per share during the same quarter last year, which suggests a positive year over year growth rate of 63%. The company is expected to report its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Penn National Gaming will report full-year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.77. For the next financial year, analysts expect that the business will report earnings of $1.99 per share, with EPS estimates ranging from $1.79 to $2.25. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, July 26th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.08. The firm had revenue of $826.91 million for the quarter, compared to analysts’ expectations of $840.15 million. Penn National Gaming had a net margin of 18.02% and a return on equity of 268.43%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share.

PENN has been the topic of several recent analyst reports. TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b-” rating in a report on Monday, May 21st. Jefferies Financial Group set a $40.00 price target on shares of Penn National Gaming and gave the company a “buy” rating in a report on Friday, July 27th. ValuEngine raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a report on Monday, May 14th. BidaskClub cut shares of Penn National Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 2nd. Finally, Morgan Stanley upped their price target on shares of Penn National Gaming from $31.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 26th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.27.

PENN traded up $0.47 during trading on Friday, hitting $31.84. The company had a trading volume of 35,444 shares, compared to its average volume of 996,873. The stock has a market capitalization of $3.06 billion, a PE ratio of 3.54, a P/E/G ratio of 1.90 and a beta of 1.60. The company has a debt-to-equity ratio of 162.63, a current ratio of 0.63 and a quick ratio of 0.63. Penn National Gaming has a 1-year low of $22.20 and a 1-year high of $36.90.

In other Penn National Gaming news, Director Saul Reibstein sold 6,694 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $35.00, for a total transaction of $234,290.00. Following the completion of the sale, the director now owns 25,642 shares in the company, valued at $897,470. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Wilmott sold 67,804 shares of the business’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $35.08, for a total transaction of $2,378,564.32. Following the sale, the chief executive officer now owns 530,403 shares of the company’s stock, valued at approximately $18,606,537.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,330 shares of company stock valued at $8,037,760. 10.56% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in PENN. Glenmede Trust Co. NA increased 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 purchasing an additional 1,095,290 shares during the last quarter. Millennium Management LLC grew its position in shares of Penn National Gaming by 64.9% during the first quarter. Millennium Management LLC now owns 2,337,500 shares of the company’s stock worth $61,383,000 after acquiring an additional 920,184 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 worth $85,557,000 after acquiring an additional 823,049 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of 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 worth $24,546,000 after acquiring an additional 730,261 shares during the last quarter. Finally, Bamco Inc. NY grew its position in shares of Penn National Gaming by 12.6% during the first quarter. Bamco Inc. NY now owns 6,481,736 shares of the company’s stock worth $170,210,000 after acquiring an additional 723,929 shares during the last quarter. Hedge funds and other institutional investors own 99.04% 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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Earnings History and Estimates for Penn National Gaming (NASDAQ:PENN)

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