Penn National Gaming (PENN) Lifted to “Buy” at ValuEngine

Penn National Gaming (NASDAQ:PENN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday.

Other analysts have also recently issued reports about the company. Deutsche Bank dropped their price target on Penn National Gaming from $38.00 to $37.00 and set a “buy” rating for the company in a report on Friday, February 9th. Jefferies Group reissued a “buy” rating and set a $35.00 price target on shares of Penn National Gaming in a report on Tuesday, February 6th. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, April 11th. BidaskClub raised Penn National Gaming from a “hold” rating to a “buy” rating in a report on Tuesday, March 27th. Finally, SunTrust Banks raised Penn National Gaming from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.00.

NASDAQ:PENN traded up $1.51 during mid-day trading on Monday, hitting $33.75. 3,895,460 shares of the stock were exchanged, compared to its average volume of 1,423,052. The stock has a market cap of $2.96 billion, a P/E ratio of 3.76 and a beta of 1.41. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of -138.00. Penn National Gaming has a fifty-two week low of $32.16 and a fifty-two week high of $34.08.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, April 26th. The company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.09. The business had revenue of $816.10 million during the quarter, compared to analysts’ expectations of $805.70 million. Penn National Gaming had a negative return on equity of 92.84% and a net margin of 17.04%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. sell-side analysts forecast that Penn National Gaming will post 1.55 EPS for the current year.

In related news, insider Jay A. Snowden acquired 10,560 shares of the stock in a transaction on Friday, March 2nd. The shares were purchased at an average price of $25.98 per share, for a total transaction of $274,348.80. Following the purchase, the insider now directly owns 72,567 shares in the company, valued at $1,885,290.66. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy J. Wilmott sold 102,528 shares of the firm’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $30.41, for a total value of $3,117,876.48. Following the transaction, the chief executive officer now owns 615,395 shares in the company, valued at approximately $18,714,161.95. The disclosure for this sale can be found here. 10.56% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio increased its stake in shares of Penn National Gaming by 18.9% in the 4th quarter. Strs Ohio now owns 178,400 shares of the company’s stock valued at $5,589,000 after purchasing an additional 28,400 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Penn National Gaming by 65.8% in the 4th quarter. Two Sigma Advisers LP now owns 761,952 shares of the company’s stock valued at $23,872,000 after purchasing an additional 302,409 shares during the last quarter. Carillon Tower Advisers Inc. bought a new position in shares of Penn National Gaming in the 4th quarter valued at $71,807,000. California Public Employees Retirement System increased its stake in shares of Penn National Gaming by 7.6% in the 4th quarter. California Public Employees Retirement System now owns 227,228 shares of the company’s stock valued at $7,119,000 after purchasing an additional 16,048 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Penn National Gaming by 14.7% in the 4th quarter. Wells Fargo & Company MN now owns 962,695 shares of the company’s stock valued at $30,161,000 after purchasing an additional 123,549 shares during the last quarter. Institutional investors own 99.10% of the company’s stock.

About Penn National Gaming

Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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