Wall Street brokerages expect Penn National Gaming, Inc (NASDAQ:PENN) to post $0.36 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have issued estimates for Penn National Gaming’s earnings, with estimates ranging from $0.34 to $0.41. Penn National Gaming reported earnings per share of $0.57 in the same quarter last year, which suggests a negative year-over-year growth rate of 36.8%. The company is scheduled to issue its next earnings report before the market opens on Thursday, July 25th.
According to Zacks, analysts expect that Penn National Gaming will report full year earnings of $1.43 per share for the current financial year, with EPS estimates ranging from $1.37 to $1.51. For the next year, analysts anticipate that the firm will post earnings of $2.00 per share, with EPS estimates ranging from $1.86 to $2.21. Zacks’ earnings per share 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 posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Penn National Gaming’s revenue for the quarter was up 57.2% compared to the same quarter last year.
PENN has been the subject of several research reports. Morgan Stanley set a €9.00 ($10.47) target price on Commerzbank and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Wolfe Research initiated coverage on Red Rock Resorts in a research report on Friday, June 14th. They issued a “peer perform” rating for the company. BidaskClub lowered Ames National from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Bank of America initiated coverage on Coty in a research report on Thursday, May 9th. They issued a “neutral” rating and a $12.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $32.60.
In related news, CFO William J. Fair acquired 11,000 shares of Penn National Gaming stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $19.54 per share, for a total transaction of $214,940.00. Following the transaction, the chief financial officer now directly owns 46,998 shares of the company’s stock, valued at approximately $918,340.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jay A. Snowden acquired 10,875 shares of Penn National Gaming stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average price of $19.51 per share, with a total value of $212,171.25. Following the transaction, the insider now directly owns 104,433 shares in the company, valued at $2,037,487.83. The disclosure for this purchase can be found here. 8.53% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in PENN. BlackRock Inc. boosted its position in Penn National Gaming by 39.2% during the 4th quarter. BlackRock Inc. now owns 12,472,568 shares of the company’s stock valued at $234,858,000 after purchasing an additional 3,515,388 shares during the period. Norges Bank acquired a new position in Penn National Gaming during the 4th quarter valued at approximately $26,350,000. SG Capital Management LLC acquired a new position in Penn National Gaming during the 1st quarter valued at approximately $17,188,000. FMR LLC boosted its position in Penn National Gaming by 13.0% during the 4th quarter. FMR LLC now owns 7,225,110 shares of the company’s stock valued at $136,049,000 after purchasing an additional 832,714 shares during the period. Finally, Northern Trust Corp boosted its position in Penn National Gaming by 43.5% during the 4th quarter. Northern Trust Corp now owns 1,657,063 shares of the company’s stock valued at $31,202,000 after purchasing an additional 501,964 shares during the period. Institutional investors and hedge funds own 96.72% of the company’s stock.
Shares of PENN traded down $0.52 during mid-day trading on Monday, hitting $17.91. The stock had a trading volume of 2,864,351 shares, compared to its average volume of 1,161,775. The stock has a market capitalization of $2.16 billion, a P/E ratio of 19.26, a PEG ratio of 1.29 and a beta of 1.77. The company’s fifty day moving average price is $19.08. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.78 and a current ratio of 0.78. Penn National Gaming has a fifty-two week low of $17.30 and a fifty-two week high of $35.70.
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 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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