Brokerages expect that Penn National Gaming, Inc (NASDAQ:PENN) will announce $807.32 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Penn National Gaming’s earnings. The highest sales estimate is $808.00 million and the lowest is $806.73 million. Penn National Gaming posted sales of $806.25 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.1%. The firm is scheduled to report its next earnings report on Thursday, October 25th.
On average, analysts expect that Penn National Gaming will report full-year sales of $3.68 billion for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report sales of $5.29 billion, with estimates ranging from $5.27 billion to $5.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, July 26th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.08. The business had revenue of $826.91 million during the quarter, compared to the consensus estimate of $840.15 million. Penn National Gaming had a return on equity of 268.43% and a net margin of 18.02%. Penn National Gaming’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share.
A number of analysts recently weighed in on the company. Bank of America increased their price objective on Penn National Gaming from $36.50 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, July 17th. BidaskClub downgraded Penn National Gaming from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Zacks Investment Research downgraded Penn National Gaming from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Morgan Stanley increased their price objective on Penn National Gaming from $31.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, June 26th. Finally, ValuEngine upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Penn National Gaming currently has a consensus rating of “Buy” and a consensus price target of $36.08.
NASDAQ PENN traded up $0.01 on Friday, reaching $29.81. The company had a trading volume of 3,287,700 shares, compared to its average volume of 1,491,873. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 3.32, a PEG ratio of 1.88 and a beta of 1.61. Penn National Gaming has a fifty-two week low of $23.92 and a fifty-two week high of $36.90. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 162.63.
In other Penn National Gaming news, Director Saul Reibstein sold 6,694 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $35.00, for a total transaction of $234,290.00. Following the completion of the sale, the director now directly owns 25,642 shares in the company, valued at approximately $897,470. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Wilmott purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were acquired at an average price of $30.85 per share, with a total value of $3,085,000.00. The disclosure for this purchase can be found here. Company insiders own 10.56% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Natixis acquired a new stake in shares of Penn National Gaming in the 2nd quarter valued at about $6,307,000. Principal Financial Group Inc. grew its stake in shares of Penn National Gaming by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 663,202 shares of the company’s stock valued at $17,415,000 after buying an additional 20,624 shares during the period. US Bancorp DE grew its stake in shares of Penn National Gaming by 61,460.0% in the 2nd quarter. US Bancorp DE now owns 12,312 shares of the company’s stock valued at $413,000 after buying an additional 12,292 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Penn National Gaming in the 2nd quarter valued at about $1,003,000. Finally, Cowen Inc. grew its stake in shares of Penn National Gaming by 2.8% in the 2nd quarter. Cowen Inc. now owns 107,588 shares of the company’s stock valued at $3,614,000 after buying an additional 2,911 shares during the period. Institutional investors own 98.95% 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.
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