Zacks: Brokerages Anticipate Gaming and Leisure Properties Inc (NASDAQ:GLPI) Will Post Earnings of $0.85 Per Share

Share on StockTwits

Wall Street analysts predict that Gaming and Leisure Properties Inc (NASDAQ:GLPI) will report earnings of $0.85 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Gaming and Leisure Properties’ earnings. Gaming and Leisure Properties reported earnings per share of $0.76 in the same quarter last year, which suggests a positive year over year growth rate of 11.8%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Gaming and Leisure Properties will report full year earnings of $3.41 per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of $3.47 per share, with EPS estimates ranging from $3.46 to $3.50. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). The firm had revenue of $289.01 million during the quarter, compared to analysts’ expectations of $289.64 million. Gaming and Leisure Properties had a return on equity of 14.79% and a net margin of 29.69%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share.

Several equities research analysts recently issued reports on GLPI shares. Zacks Investment Research lowered shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Monday. Scotiabank started coverage on shares of Gaming and Leisure Properties in a report on Monday, July 29th. They issued an “outperform” rating for the company. Deutsche Bank reissued a “buy” rating and issued a $47.00 target price on shares of Gaming and Leisure Properties in a report on Sunday, May 12th. Nomura set a $42.00 target price on shares of Gaming and Leisure Properties and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley set a $47.00 target price on shares of Gaming and Leisure Properties and gave the stock a “buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $43.00.

Gaming and Leisure Properties stock traded down $0.72 during midday trading on Wednesday, hitting $37.51. The stock had a trading volume of 32,491 shares, compared to its average volume of 1,227,330. The stock has a fifty day moving average of $38.44. The stock has a market capitalization of $8.17 billion, a P/E ratio of 11.80, a PEG ratio of 1.24 and a beta of 0.53. Gaming and Leisure Properties has a 52-week low of $31.19 and a 52-week high of $40.82. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 2.72.

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its stake in Gaming and Leisure Properties by 11.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 68,953 shares of the real estate investment trust’s stock worth $2,659,000 after purchasing an additional 7,149 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Gaming and Leisure Properties by 39.9% during the 1st quarter. Quadrant Capital Group LLC now owns 988 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 282 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Gaming and Leisure Properties by 7.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,053 shares of the real estate investment trust’s stock valued at $1,082,000 after acquiring an additional 2,034 shares during the last quarter. US Bancorp DE boosted its position in shares of Gaming and Leisure Properties by 3.5% during the 1st quarter. US Bancorp DE now owns 23,191 shares of the real estate investment trust’s stock valued at $894,000 after acquiring an additional 780 shares during the last quarter. Finally, Pennsylvania Trust Co bought a new stake in Gaming and Leisure Properties in the first quarter worth $1,361,000. Institutional investors and hedge funds own 89.95% of the company’s stock.

About Gaming and Leisure Properties

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

Read More: Profit margin is different from the revenue

Get a free copy of the Zacks research report on Gaming and Leisure Properties (GLPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Gaming and Leisure Properties (NASDAQ:GLPI)

Receive News & Ratings for Gaming and Leisure Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaming and Leisure Properties and related companies with MarketBeat.com's FREE daily email newsletter.