Penn National Gaming (NASDAQ:PENN) posted its quarterly earnings data on Thursday. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05), MarketWatch Earnings reports. The firm had revenue of $789.70 million for the quarter, compared to analysts’ expectations of $807.79 million. Penn National Gaming had a net margin of 18.02% and a return on equity of 268.43%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. Penn National Gaming updated its Q4 2018 guidance to $-0.4–0.4 EPS and its FY 2018 guidance to $0.90-0.90 EPS.
Shares of NASDAQ:PENN traded down $0.39 during midday trading on Friday, reaching $23.49. The company had a trading volume of 90,108 shares, compared to its average volume of 3,805,423. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 162.63. The firm has a market cap of $2.15 billion, a PE ratio of 2.63, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. Penn National Gaming has a one year low of $21.91 and a one year high of $36.90.
In related news, Director Saul Reibstein sold 6,694 shares of Penn National Gaming stock in a transaction on Friday, August 24th. The shares were sold at an average price of $35.00, for a total value of $234,290.00. Following the completion of the sale, the director now owns 25,642 shares in the company, valued at $897,470. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Timothy J. Wilmott purchased 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was bought 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. 10.56% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on the stock. SunTrust Banks set a $32.00 price objective on shares of Penn National Gaming and gave the company a “buy” rating in a research note on Friday. ValuEngine lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Jefferies Financial Group set a $40.00 price target on shares of Penn National Gaming and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, Bank of America lifted 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 note on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.50.
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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