Penn National Gaming (NASDAQ:PENN) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.
Several other analysts have also weighed in on the company. ValuEngine lowered Penn National Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded Penn National Gaming from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Morgan Stanley set a $23.00 target price on Penn National Gaming and gave the company a “hold” rating in a report on Thursday, December 20th. TheStreet downgraded Penn National Gaming from a “b-” rating to a “c” rating in a report on Monday, December 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Penn National Gaming from $41.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $34.11.
Shares of Penn National Gaming stock opened at $24.86 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 63.61. The firm has a market capitalization of $2.83 billion, a PE ratio of 2.77, a PEG ratio of 1.57 and a beta of 1.82. Penn National Gaming has a fifty-two week low of $17.30 and a fifty-two week 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 the Thomson Reuters’ consensus estimate of $0.43 by ($0.05). The firm had revenue of $789.70 million during 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 6,177.13%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. Equities analysts anticipate that Penn National Gaming will post 0.89 earnings per share for the current fiscal year.
Penn National Gaming announced that its Board of Directors has approved a stock repurchase plan on Wednesday, January 9th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in PENN. Quantbot Technologies LP purchased a new stake in Penn National Gaming in the 3rd quarter worth about $129,000. Engineers Gate Manager LP purchased a new stake in Penn National Gaming in the 3rd quarter worth about $204,000. Wakefield Asset Management LLLP purchased a new stake in Penn National Gaming in the 3rd quarter worth about $253,000. Berkley W R Corp purchased a new stake in Penn National Gaming in the 3rd quarter worth about $392,000. Finally, US Bancorp DE lifted its stake in Penn National Gaming by 61,460.0% in the 2nd quarter. US Bancorp DE now owns 12,312 shares of the company’s stock worth $413,000 after acquiring an additional 12,292 shares in the last quarter. 79.62% of the stock is owned by institutional investors and hedge funds.
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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