Wall Street analysts expect Penn National Gaming, Inc (NASDAQ:PENN) to post earnings per share (EPS) of $0.39 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Penn National Gaming’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.40. Penn National Gaming reported earnings of $0.48 per share in the same quarter last year, which would indicate a negative year over year growth rate of 18.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, April 25th.
On average, analysts expect that Penn National Gaming will report full year earnings of $1.45 per share for the current fiscal year, with EPS estimates ranging from $1.37 to $1.56. For the next financial year, analysts forecast that the business will post earnings of $2.10 per share, with EPS estimates ranging from $1.98 to $2.28. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.03. Penn National Gaming had a return on equity of 47.01% and a net margin of 2.61%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company posted ($0.57) earnings per share. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year.
Several research analysts have recently commented on PENN shares. Nomura upgraded Penn National Gaming from a “neutral” rating to a “buy” rating and set a $24.17 target price for the company in a research report on Thursday, January 17th. BidaskClub upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Saturday, January 12th. Morgan Stanley set a $23.00 target price on Penn National Gaming and gave the stock a “hold” rating in a research report on Thursday, December 20th. Finally, Zacks Investment Research upgraded Penn National Gaming from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $33.69.
Penn National Gaming stock traded up $0.13 during trading on Friday, reaching $21.22. The company had a trading volume of 1,452,018 shares, compared to its average volume of 1,730,857. Penn National Gaming has a 1-year low of $17.30 and a 1-year high of $36.90. The stock has a market capitalization of $2.46 billion, a P/E ratio of 22.82, a P/E/G ratio of 1.46 and a beta of 1.85. The company has a debt-to-equity ratio of 12.90, a quick ratio of 0.92 and a current ratio of 0.92.
Penn National Gaming declared that its board has initiated a share buyback plan on Wednesday, January 9th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of large investors have recently added to or reduced their stakes in PENN. Geode Capital Management LLC raised its holdings in shares of Penn National Gaming by 31.7% during the fourth quarter. Geode Capital Management LLC now owns 1,302,174 shares of the company’s stock valued at $24,519,000 after purchasing an additional 313,346 shares during the last quarter. Norges Bank bought a new stake in Penn National Gaming during the 4th quarter valued at $26,350,000. Dimensional Fund Advisors LP raised its stake in Penn National Gaming by 30.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,086,384 shares of the company’s stock valued at $20,456,000 after acquiring an additional 252,915 shares in the last quarter. FMR LLC raised its stake 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 acquiring an additional 832,714 shares in the last quarter. Finally, Penn Capital Management Co. Inc. raised its stake in Penn National Gaming by 29.9% during the 4th quarter. Penn Capital Management Co. Inc. now owns 518,749 shares of the company’s stock valued at $10,691,000 after acquiring an additional 119,344 shares in the last quarter. Institutional investors and hedge funds own 95.57% of the company’s stock.
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 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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