Penn National Gaming, Inc. (PENN) Updates Q4 Earnings Guidance

Penn National Gaming, Inc. (NASDAQ:PENN) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.17 for the period, compared to the Thomson Reuters consensus estimate of $0.15. The company issued revenue guidance of $756.6 million, compared to the consensus revenue estimate of $764.91 million.

Several equities research analysts have weighed in on the stock. ValuEngine cut shares of Penn National Gaming from a buy rating to a hold rating in a research report on Tuesday, August 1st. Morgan Stanley upped their price objective on shares of Penn National Gaming from $22.00 to $26.00 and gave the stock an equal weight rating in a report on Tuesday, October 24th. BidaskClub lowered shares of Penn National Gaming from a hold rating to a sell rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Penn National Gaming from a buy rating to a hold rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus restated a buy rating and issued a $23.00 price objective on shares of Penn National Gaming in a report on Friday, July 14th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $21.91.

Shares of Penn National Gaming, Inc. (PENN) traded down $0.21 during midday trading on Friday, hitting $26.88. 1,034,000 shares of the stock were exchanged, compared to its average volume of 1,276,129. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.75 and a current ratio of 0.82. The stock has a market cap of $2,467.78, a P/E ratio of 36.61, a PEG ratio of 6.88 and a beta of 0.97. Penn National Gaming, Inc. has a 12-month low of $12.77 and a 12-month high of $27.27.

In other news, EVP Carl Sottosanti sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $22.00, for a total transaction of $440,000.00. Following the sale, the executive vice president now owns 45,831 shares of the company’s stock, valued at approximately $1,008,282. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Wilmott sold 5,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $23.02, for a total transaction of $124,308.00. Following the completion of the transaction, the chief executive officer now directly owns 460,600 shares in the company, valued at approximately $10,603,012. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 420,813 shares of company stock worth $9,924,682. Insiders own 10.17% of the company’s stock.

WARNING: “Penn National Gaming, Inc. (PENN) Updates Q4 Earnings Guidance” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/11/12/penn-national-gaming-inc-penn-updates-q4-earnings-guidance.html.

About Penn National Gaming

Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.

Earnings History and Estimates for Penn National Gaming (NASDAQ:PENN)

Receive News & Ratings for Penn National Gaming Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply