Penn National Gaming, Inc (PENN) to Post FY2018 Earnings of $2.10 Per Share, Jefferies Financial Group Forecasts

Penn National Gaming, Inc (NASDAQ:PENN) – Equities research analysts at Jefferies Financial Group decreased their FY2018 EPS estimates for shares of Penn National Gaming in a research note issued on Tuesday, October 30th. Jefferies Financial Group analyst D. Katz now anticipates that the company will earn $2.10 per share for the year, down from their previous forecast of $2.55. Jefferies Financial Group has a “Buy” rating and a $40.00 price target on the stock. Jefferies Financial Group also issued estimates for Penn National Gaming’s Q4 2018 earnings at $0.62 EPS.

A number of other analysts have also issued reports on PENN. Bank of America increased their price target on shares of Penn National Gaming from $36.50 to $38.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 17th. BidaskClub lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. UBS Group lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. ValuEngine lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.08.

NASDAQ PENN opened at $23.88 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 162.63. The company has a market capitalization of $2.15 billion, a PE ratio of 2.66, a P/E/G ratio of 1.13 and a beta of 1.61. Penn National Gaming has a 52-week low of $21.91 and a 52-week high of $36.90.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). The company had revenue of $789.70 million during the quarter, compared to analysts’ expectations of $807.79 million. Penn National Gaming had a return on equity of 268.43% and a net margin of 18.02%. Penn National Gaming’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share.

In related news, Director Saul Reibstein sold 6,694 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $35.00, for a total value of $234,290.00. Following the transaction, the director now owns 25,642 shares in the company, valued at $897,470. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy J. Wilmott acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average price of $30.85 per share, for a total transaction of $3,085,000.00. The disclosure for this purchase can be found here. Corporate insiders own 10.56% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PENN. SeaCrest Wealth Management LLC acquired a new position in Penn National Gaming in the second quarter worth approximately $128,000. Engineers Gate Manager LP acquired a new position in Penn National Gaming in the third quarter worth approximately $204,000. Connable Office Inc. acquired a new position in Penn National Gaming in the second quarter worth approximately $208,000. PHH Investments Ltd. acquired a new position in Penn National Gaming during the second quarter valued at approximately $252,000. Finally, Commonwealth Equity Services LLC acquired a new position in Penn National Gaming during the second quarter valued at approximately $275,000. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Penn National Gaming Company Profile

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

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