Zacks Investment Research lowered shares of Penn National Gaming (NASDAQ:PENN) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Penn National Gaming, Inc. owns, operates or has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. They have also recently expanded into social online gaming offerings via Penn Interactive Ventures, LLC division and recent acquisition of Rocket Speed Inc. “
Several other equities analysts have also recently weighed in on the company. Jefferies Group initiated coverage on Penn National Gaming in a research report on Thursday, January 18th. They issued a buy rating and a $39.00 price target for the company. Deutsche Bank lifted their price target on Penn National Gaming from $29.00 to $32.00 in a research report on Monday, December 18th. BidaskClub cut Penn National Gaming from a strong-buy rating to a buy rating in a research report on Friday, January 5th. Barclays lifted their price target on Penn National Gaming from $23.00 to $30.00 and gave the company an overweight rating in a research report on Monday, November 20th. Finally, Stifel Nicolaus reiterated a buy rating and issued a $33.00 price target on shares of Penn National Gaming in a research report on Monday, December 18th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $30.60.
Shares of Penn National Gaming (PENN) opened at $28.06 on Wednesday. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. Penn National Gaming has a 52-week low of $13.89 and a 52-week high of $33.30. The stock has a market capitalization of $2,550.00, a price-to-earnings ratio of 5.32 and a beta of 1.39.
Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, February 8th. The company reported ($3.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($3.58). Penn National Gaming had a negative return on equity of 22.76% and a net margin of 15.97%. The firm had revenue of $769.00 million during the quarter, compared to analysts’ expectations of $766.82 million. During the same period in the prior year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. equities analysts predict that Penn National Gaming will post 1.48 EPS for the current fiscal year.
In other Penn National Gaming news, Director Jane Scaccetti bought 2,500 shares of Penn National Gaming stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average cost of $27.51 per share, for a total transaction of $68,775.00. Following the completion of the transaction, the director now directly owns 14,831 shares in the company, valued at $408,000.81. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.17% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Strs Ohio grew its position in Penn National Gaming by 18.9% during the fourth quarter. Strs Ohio now owns 178,400 shares of the company’s stock worth $5,589,000 after buying an additional 28,400 shares in the last quarter. Voya Investment Management LLC grew its position in Penn National Gaming by 15.9% during the second quarter. Voya Investment Management LLC now owns 39,066 shares of the company’s stock worth $836,000 after buying an additional 5,354 shares in the last quarter. State Street Corp grew its position in Penn National Gaming by 8.6% during the second quarter. State Street Corp now owns 1,971,391 shares of the company’s stock worth $42,183,000 after buying an additional 156,455 shares in the last quarter. Rhumbline Advisers grew its position in Penn National Gaming by 2.6% during the third quarter. Rhumbline Advisers now owns 173,787 shares of the company’s stock worth $4,065,000 after buying an additional 4,400 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Penn National Gaming by 9.5% during the third quarter. First Trust Advisors LP now owns 145,092 shares of the company’s stock worth $3,394,000 after buying an additional 12,638 shares in the last quarter. Institutional investors and hedge funds own 97.32% of the company’s stock.
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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.
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