Analysts’ Weekly Ratings Changes for Penn National Gaming (PENN)

Penn National Gaming (NASDAQ: PENN) recently received a number of ratings updates from brokerages and research firms:

  • 11/5/2018 – Penn National Gaming was given a new $31.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 11/2/2018 – Penn National Gaming had its price target lowered by analysts at JPMorgan Chase & Co. from $41.00 to $37.00. They now have an “overweight” rating on the stock.
  • 11/2/2018 – Penn National Gaming had its price target lowered by analysts at Nomura from $38.00 to $30.00. They now have a “neutral” rating on the stock.
  • 11/2/2018 – Penn National Gaming was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/2/2018 – Penn National Gaming was given a new $32.00 price target on by analysts at SunTrust Banks, Inc.. They now have a “buy” rating on the stock.
  • 10/27/2018 – Penn National Gaming was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/24/2018 – Penn National Gaming was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/16/2018 – Penn National Gaming had its “hold” rating reaffirmed by analysts at Bank of America Corp. They now have a $31.00 price target on the stock.
  • 10/8/2018 – Penn National Gaming was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/4/2018 – Penn National Gaming was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Penn National, which have outperformed the industry in the past year, should continue to grow after the company posted better-than-expected earnings results in the second quarter of 2018. The company’s initiatives — involving both revenue-boosting and cost saving initiatives — are expected to reap recurring benefits over the years. Through ongoing refinements in procurement, marketing and labor management, it has reported margin growth in the second quarter of 2018. Further, the acquisition of Pinnacle is also expected to provide Penn National with significant synergies in the future. Earnings estimates for the current year have also inched up over the past 60 days, reflecting analysts’ optimism. However, a competitive operating environment and weather-related concerns are potential headwinds for the company.”
  • 10/2/2018 – Penn National Gaming was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/2/2018 – Penn National Gaming is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $39.00 price target on the stock.
  • 9/25/2018 – Penn National Gaming was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $37.00 price target on the stock. According to Zacks, “Shares of Penn National, which have outperformed the industry in the past year, should continue to grow after the company posted better-than-expected earnings results in the second quarter of 2018. The company’s initiatives — involving both revenue-boosting and cost saving initiatives — are expected to reap recurring benefits over the years. Through ongoing refinements in procurement, marketing and labor management, it has reported margin growth in the second quarter of 2018. Further, the acquisition of Pinnacle is also expected to provide Penn National with significant synergies in the future. Earnings estimates for the current year have also inched up over the past 60 days, reflecting analysts’ optimism. However, a competitive operating environment and weather-related concerns are potential headwinds for the company.”

Shares of PENN traded down $1.03 during trading hours on Monday, reaching $22.17. 4,014,270 shares of the company traded hands, compared to its average volume of 1,590,484. The firm has a market capitalization of $2.14 billion, a PE ratio of 2.47, a price-to-earnings-growth ratio of 2.58 and a beta of 1.86. The company has a debt-to-equity ratio of 162.63, a current ratio of 0.63 and a quick ratio of 0.63. Penn National Gaming, Inc has a 12-month low of $21.91 and a 12-month high of $36.90.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). The company had revenue of $789.70 million for the quarter, compared to analysts’ expectations of $807.79 million. Penn National Gaming had a negative net margin of 5.41% and a negative return on equity of 502.45%. Penn National Gaming’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. As a group, research analysts anticipate that Penn National Gaming, Inc will post 0.9 EPS for the current fiscal year.

In related news, Director Saul Reibstein sold 6,694 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $35.00, for a total transaction of $234,290.00. Following the completion of the transaction, the director now directly owns 25,642 shares in the company, valued at $897,470. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Wilmott bought 100,000 shares of the firm’s stock in a transaction that occurred 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. 10.56% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC acquired a new position in Penn National Gaming during the second quarter valued at $128,000. Connable Office Inc. acquired a new position in Penn National Gaming during the second quarter valued at $208,000. Engineers Gate Manager LP acquired a new position in Penn National Gaming during the third quarter valued at $204,000. PHH Investments Ltd. acquired a new position in Penn National Gaming during the second quarter valued at $252,000. Finally, Commonwealth Equity Services LLC acquired a new position in Penn National Gaming during the second quarter valued at $275,000. Institutional investors own 99.51% of the company’s stock.

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.

Read More: Reverse Stock Split

Receive News & Ratings for Penn National Gaming Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply