Penn National Gaming (NASDAQ:PENN) had its price objective hoisted by Stifel Nicolaus from $23.00 to $39.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the stock.
Several other brokerages have also recently weighed in on PENN. Morgan Stanley upped their price target on Penn National Gaming from $21.00 to $32.00 and gave the company an overweight rating in a research report on Wednesday, May 27th. ValuEngine upgraded shares of Penn National Gaming from a hold rating to a buy rating in a research report on Thursday, April 30th. Zacks Investment Research cut shares of Penn National Gaming from a hold rating to a sell rating and set a $20.50 price target on the stock. in a report on Monday, May 18th. Bank of America reissued a buy rating and set a $45.00 price objective on shares of Penn National Gaming in a research note on Monday, June 8th. Finally, TheStreet upgraded Penn National Gaming from a d+ rating to a c- rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $31.05.
NASDAQ PENN opened at $31.70 on Tuesday. The firm has a market cap of $3.90 billion, a P/E ratio of -6.05 and a beta of 2.57. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 9.22. The company’s 50 day moving average is $28.33 and its 200-day moving average is $24.15. Penn National Gaming has a 12-month low of $3.75 and a 12-month high of $40.14.
Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, May 7th. The company reported ($4.42) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($4.62). Penn National Gaming had a negative net margin of 11.80% and a positive return on equity of 0.60%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. Equities analysts expect that Penn National Gaming will post -2.75 EPS for the current year.
In other Penn National Gaming news, CEO Jay A. Snowden bought 27,777 shares of Penn National Gaming stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $18.00 per share, with a total value of $499,986.00. Following the acquisition, the chief executive officer now owns 160,520 shares in the company, valued at $2,889,360. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jane Scaccetti bought 2,777 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $49,986.00. Following the transaction, the director now owns 37,140 shares in the company, valued at $668,520. The disclosure for this purchase can be found here. Company insiders own 8.53% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its position in Penn National Gaming by 1.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 28,470 shares of the company’s stock worth $728,000 after acquiring an additional 362 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Penn National Gaming by 58.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,349 shares of the company’s stock valued at $34,000 after purchasing an additional 497 shares during the period. Advisor Group Inc. grew its holdings in shares of Penn National Gaming by 19.6% in the fourth quarter. Advisor Group Inc. now owns 3,638 shares of the company’s stock worth $92,000 after purchasing an additional 596 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of Penn National Gaming by 1.5% in the fourth quarter. Mason Street Advisors LLC now owns 57,953 shares of the company’s stock worth $1,481,000 after buying an additional 834 shares during the period. Finally, Glassman Wealth Services raised its holdings in Penn National Gaming by 228.9% during the 1st quarter. Glassman Wealth Services now owns 2,003 shares of the company’s stock valued at $25,000 after buying an additional 1,394 shares during the last quarter. 81.91% of the stock is owned by institutional investors.
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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