Penn National Gaming, Inc. (NASDAQ:PENN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Penn National Gaming, Inc. (NASDAQ:PENNGet Rating) have been assigned an average rating of “Moderate Buy” from the twenty research firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $67.28.

A number of analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Penn National Gaming from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 13th. Morgan Stanley upgraded Penn National Gaming from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $55.00 to $51.00 in a research report on Monday, April 25th. Truist Financial lowered their price target on Penn National Gaming from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, April 19th. Jefferies Financial Group upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Wednesday, May 18th. Finally, StockNews.com assumed coverage on Penn National Gaming in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

Shares of PENN opened at $28.34 on Thursday. Penn National Gaming has a 52 week low of $26.46 and a 52 week high of $86.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 12.65 and a beta of 2.36. The stock’s 50-day moving average price is $33.00 and its 200-day moving average price is $41.43.

Penn National Gaming (NASDAQ:PENNGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.16). Penn National Gaming had a return on equity of 10.91% and a net margin of 6.16%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. As a group, equities analysts anticipate that Penn National Gaming will post 1.6 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of PENN. Renaissance Technologies LLC increased its holdings in shares of Penn National Gaming by 79.3% in the first quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock valued at $75,891,000 after purchasing an additional 791,500 shares during the last quarter. Fir Tree Capital Management LP acquired a new stake in Penn National Gaming during the first quarter worth $31,616,000. State Street Corp increased its stake in Penn National Gaming by 14.7% during the fourth quarter. State Street Corp now owns 5,488,185 shares of the company’s stock worth $284,562,000 after acquiring an additional 703,925 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Penn National Gaming during the fourth quarter worth $32,517,000. Finally, American Century Companies Inc. increased its stake in Penn National Gaming by 4,433.1% during the fourth quarter. American Century Companies Inc. now owns 538,530 shares of the company’s stock worth $27,923,000 after acquiring an additional 526,650 shares during the last quarter. 81.28% of the stock is owned by hedge funds and other institutional investors.

Penn National Gaming Company Profile (Get Rating)

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through five segments: Northeast, South, West, Midwest, Interactive. The company offers casino gaming, online gaming, live racing, sports betting, and digital sports content.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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