Equities analysts predict that Penn National Gaming, Inc. (NASDAQ:PENN) will post $1.49 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Penn National Gaming’s earnings, with estimates ranging from $1.42 billion to $1.54 billion. Penn National Gaming posted sales of $1.03 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 44.7%. The firm is scheduled to announce its next earnings results on Thursday, February 3rd.
On average, analysts expect that Penn National Gaming will report full-year sales of $5.83 billion for the current year, with estimates ranging from $5.75 billion to $5.88 billion. For the next year, analysts forecast that the firm will report sales of $6.10 billion, with estimates ranging from $5.80 billion to $6.33 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 issued its earnings results on Thursday, November 4th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.32). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Penn National Gaming had a net margin of 7.22% and a return on equity of 13.64%. Penn National Gaming’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $0.93 earnings per share.
PENN has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Penn National Gaming from $31.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, November 29th. Credit Suisse Group cut their price objective on shares of Penn National Gaming from $136.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, November 5th. Morgan Stanley cut their price objective on shares of Penn National Gaming from $85.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, November 8th. Capital One Financial initiated coverage on shares of Penn National Gaming in a research report on Wednesday, September 1st. They set an “overweight” rating for the company. Finally, Roth Capital initiated coverage on shares of Penn National Gaming in a research report on Tuesday, October 12th. They set a “buy” rating and a $107.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $105.88.
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In related news, CEO Jay A. Snowden sold 148,387 shares of Penn National Gaming stock in a transaction that occurred on Monday, October 4th. The shares were sold at an average price of $77.23, for a total value of $11,459,928.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay A. Snowden sold 14,900 shares of Penn National Gaming stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $80.46, for a total transaction of $1,198,854.00. Following the completion of the transaction, the chief executive officer now owns 545,396 shares of the company’s stock, valued at approximately $43,882,562.16. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Sanders Morris Harris LLC purchased a new position in shares of Penn National Gaming during the second quarter worth about $1,703,000. Berylson Capital Partners LLC acquired a new stake in shares of Penn National Gaming during the second quarter worth about $9,814,000. Trexquant Investment LP boosted its stake in shares of Penn National Gaming by 122.3% during the second quarter. Trexquant Investment LP now owns 60,086 shares of the company’s stock worth $4,596,000 after buying an additional 33,061 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of Penn National Gaming by 241.4% during the second quarter. Qube Research & Technologies Ltd now owns 223,729 shares of the company’s stock worth $17,113,000 after buying an additional 158,201 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Penn National Gaming by 1,990.2% during the second quarter. Public Employees Retirement System of Ohio now owns 93,598 shares of the company’s stock worth $7,159,000 after buying an additional 89,120 shares during the period. 84.61% of the stock is currently owned by institutional investors.
Shares of NASDAQ PENN opened at $47.98 on Monday. The firm has a 50-day simple moving average of $65.81 and a 200-day simple moving average of $72.08. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 20.77 and a beta of 2.45. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 2.21. Penn National Gaming has a 52 week low of $47.01 and a 52 week high of $142.00.
About Penn National Gaming
Penn National Gaming, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, and Midwest, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.
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