Penn National Gaming, Inc to Post Q1 2019 Earnings of $0.40 Per Share, Jefferies Financial Group Forecasts (PENN)

Penn National Gaming, Inc (NASDAQ:PENN) – Jefferies Financial Group lifted their Q1 2019 EPS estimates for Penn National Gaming in a research report issued on Thursday, November 1st. Jefferies Financial Group analyst D. Katz now anticipates that the company will earn $0.40 per share for the quarter, up from their previous estimate of $0.39. 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 Q2 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.24 EPS and FY2020 earnings at $1.98 EPS.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.05). The company had revenue of $789.70 million for the quarter, compared to analyst estimates of $807.79 million. Penn National Gaming had a negative net margin of 5.41% and a negative return on equity of 502.45%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS.

A number of other research analysts have also commented on the stock. Morgan Stanley set a $31.00 price objective on shares of Penn National Gaming and gave the company a “hold” rating in a research report on Monday. ValuEngine raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. dropped their price target on shares of Penn National Gaming from $41.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday. Nomura dropped their price target on shares of Penn National Gaming from $38.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday. Finally, SunTrust Banks set a $32.00 price target on shares of Penn National Gaming and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Penn National Gaming has a consensus rating of “Hold” and an average price target of $34.42.

Shares of PENN opened at $22.17 on Monday. The stock has a market cap of $2.14 billion, a PE ratio of 2.47, a P/E/G 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 has a 52 week low of $21.91 and a 52 week high of $36.90.

A number of institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC grew its stake in Penn National Gaming by 3.6% during the second quarter. Piedmont Investment Advisors LLC now owns 48,816 shares of the company’s stock worth $1,640,000 after buying an additional 1,685 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Penn National Gaming by 19.4% during the second quarter. Meeder Asset Management Inc. now owns 10,757 shares of the company’s stock worth $361,000 after buying an additional 1,745 shares during the last quarter. Aperio Group LLC grew its stake in Penn National Gaming by 13.7% during the second quarter. Aperio Group LLC now owns 15,423 shares of the company’s stock worth $518,000 after buying an additional 1,859 shares during the last quarter. Strs Ohio grew its stake in Penn National Gaming by 1.5% during the second quarter. Strs Ohio now owns 180,200 shares of the company’s stock worth $6,052,000 after buying an additional 2,600 shares during the last quarter. Finally, United Services Automobile Association grew its stake in Penn National Gaming by 16.3% during the second quarter. United Services Automobile Association now owns 19,023 shares of the company’s stock worth $639,000 after buying an additional 2,673 shares during the last quarter. 99.51% of the stock is currently owned by hedge funds and other institutional investors.

In other Penn National Gaming news, 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 purchased at an average price of $30.85 per share, with a total value of $3,085,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now directly owns 25,642 shares of the company’s stock, valued at approximately $897,470. The disclosure for this sale can be found here. Corporate insiders own 10.56% 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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