Gaming and Leisure Properties (GLPI) Expected to Announce Quarterly Sales of $251.33 Million

Equities research analysts expect Gaming and Leisure Properties (NASDAQ:GLPI) to announce $251.33 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Gaming and Leisure Properties’ earnings. The highest sales estimate is $276.00 million and the lowest is $244.86 million. Gaming and Leisure Properties reported sales of $242.71 million in the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, April 25th.

On average, analysts expect that Gaming and Leisure Properties will report full-year sales of $1.04 billion for the current financial year, with estimates ranging from $1.02 billion to $1.12 billion. For the next year, analysts anticipate that the company will report sales of $1.07 billion per share, with estimates ranging from $1.02 billion to $1.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Gaming and Leisure Properties.

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Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.33). The business had revenue of $240.70 million during the quarter, compared to the consensus estimate of $243.27 million. Gaming and Leisure Properties had a net margin of 39.18% and a return on equity of 17.31%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share.

GLPI has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a “hold” rating on shares of Gaming and Leisure Properties in a report on Friday, February 9th. Barclays reiterated a “buy” rating on shares of Gaming and Leisure Properties in a research note on Sunday, December 24th. BidaskClub upgraded Gaming and Leisure Properties from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. ValuEngine downgraded Gaming and Leisure Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. Finally, Bank of America dropped their price objective on Gaming and Leisure Properties from $33.00 to $31.00 and set an “underperform” rating on the stock in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Gaming and Leisure Properties has a consensus rating of “Hold” and an average price target of $38.38.

Shares of GLPI stock traded down $0.23 during trading on Friday, hitting $34.24. The company’s stock had a trading volume of 545,010 shares, compared to its average volume of 1,305,493. The firm has a market cap of $7,425.10, a PE ratio of 10.87 and a beta of 0.80. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.81. Gaming and Leisure Properties has a 52 week low of $32.51 and a 52 week high of $39.32.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $2.52 annualized dividend and a yield of 7.36%. Gaming and Leisure Properties’s payout ratio is 80.00%.

In related news, CEO Peter M. Carlino bought 40,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $33.33 per share, for a total transaction of $1,333,200.00. Following the completion of the transaction, the chief executive officer now directly owns 4,388,089 shares in the company, valued at approximately $146,255,006.37. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO William J. Clifford bought 54,606 shares of the company’s stock in a transaction on Monday, February 12th. The shares were bought at an average price of $33.00 per share, for a total transaction of $1,801,998.00. Following the transaction, the chief financial officer now owns 320,674 shares of the company’s stock, valued at $10,582,242. The disclosure for this purchase can be found here. 5.88% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Gaming and Leisure Properties by 3.4% during the fourth quarter. BlackRock Inc. now owns 14,337,616 shares of the real estate investment trust’s stock worth $530,492,000 after acquiring an additional 475,890 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Gaming and Leisure Properties by 15.0% during the fourth quarter. Renaissance Technologies LLC now owns 7,666,689 shares of the real estate investment trust’s stock worth $283,667,000 after acquiring an additional 1,000,196 shares in the last quarter. Millennium Management LLC lifted its position in shares of Gaming and Leisure Properties by 74.2% during the fourth quarter. Millennium Management LLC now owns 4,692,928 shares of the real estate investment trust’s stock worth $173,638,000 after acquiring an additional 1,998,988 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Gaming and Leisure Properties by 324.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,927,911 shares of the real estate investment trust’s stock worth $108,333,000 after acquiring an additional 2,238,382 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Gaming and Leisure Properties by 2.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,778,443 shares of the real estate investment trust’s stock worth $102,494,000 after acquiring an additional 76,096 shares in the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.

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Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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Earnings History and Estimates for Gaming and Leisure Properties (NASDAQ:GLPI)

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