Wall Street analysts predict that Penn National Gaming, Inc (NASDAQ:PENN) will report $1.35 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Penn National Gaming’s earnings, with estimates ranging from $1.34 billion to $1.35 billion. Penn National Gaming reported sales of $1.16 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 16.4%. The company is expected to issue its next earnings report on Thursday, February 6th.
According to Zacks, analysts expect that Penn National Gaming will report full-year sales of $5.31 billion for the current year, with estimates ranging from $5.30 billion to $5.31 billion. For the next financial year, analysts expect that the firm will report sales of $5.53 billion, with estimates ranging from $5.48 billion to $5.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.03). Penn National Gaming had a net margin of 1.85% and a return on equity of 5.88%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.37 billion. The firm’s quarterly revenue was up 71.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS.
A number of research analysts recently weighed in on the stock. ValuEngine lowered shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. BidaskClub raised Penn National Gaming from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Friday, October 18th. TheStreet raised Penn National Gaming from a “c+” rating to a “b-” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group lowered Penn National Gaming from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $23.00 in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $24.70.
Large investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its holdings in Penn National Gaming by 430.6% during the third quarter. Millennium Management LLC now owns 361,352 shares of the company’s stock valued at $6,730,000 after purchasing an additional 293,252 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Penn National Gaming by 41.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 89,491 shares of the company’s stock valued at $1,667,000 after buying an additional 26,007 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Penn National Gaming during the 3rd quarter valued at approximately $869,000. Phocas Financial Corp. purchased a new stake in shares of Penn National Gaming during the 3rd quarter valued at approximately $4,087,000. Finally, California State Teachers Retirement System boosted its holdings in Penn National Gaming by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 171,890 shares of the company’s stock worth $3,201,000 after buying an additional 878 shares during the period. 98.86% of the stock is currently owned by institutional investors.
NASDAQ:PENN traded down $0.07 during trading hours on Friday, hitting $23.33. 151,141 shares of the company traded hands, compared to its average volume of 960,298. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 5.75. The company has a market cap of $2.71 billion, a PE ratio of 25.01, a PEG ratio of 1.51 and a beta of 1.71. The firm’s 50-day simple moving average is $21.76 and its 200-day simple moving average is $19.82. Penn National Gaming has a one year low of $16.72 and a one year high of $26.45.
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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