Equity research analysts expect Penn National Gaming, Inc. (NASDAQ: PENN – Get a rating) to post earnings per share of $0.45 for the current quarter, according to Zacks Investment Research. Eight analysts made estimates of Penn National Gaming’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.37. Penn National Gaming posted earnings per share of $0.55 in the same quarter last year, indicating a negative 18.2% year-over-year growth rate. The company is expected to release its next earnings report before the market opens on Monday, January 1.
On average, analysts expect Penn National Gaming to report annual earnings of $1.95 per share for the current fiscal year, with EPS estimates ranging from $1.76 to $2.35. For the next fiscal year, analysts expect the company to report earnings of $2.36 per share, with EPS estimates ranging from $1.78 to $2.81. Zacks earnings per share averages are an average average based on a survey of research analysts who track Penn National Gaming.
Penn National Gaming (NASDAQ: PENN – Get a rating) last released its quarterly results on Thursday, February 3. The company reported EPS of $0.26 for the quarter, missing analyst consensus estimates of $0.46 per ($0.20). Penn National Gaming had a return on equity of 13.17% and a net margin of 7.13%. The company posted revenue of $1.57 billion for the quarter, versus a consensus estimate of $1.51 billion. In the same period a year earlier, the company posted earnings per share of $0.07. Penn National Gaming’s revenue increased 53.1% from the same quarter last year.
Several equity analysts commented on the stock. Jefferies Financial Group slashed its target price on Penn National Gaming shares from $62.00 to $49.00 in a Friday, January 21 report. Roth Capital downgraded shares of Penn National Gaming from a “buy” rating to a “neutral” rating and lowered its price target for the company from $79.00 to $51.00 in a Friday, February 4 report. . Susquehanna Bancshares upgraded Penn National Gaming shares from a “neutral” to a “positive” rating and raised its price target for the company from $34.00 to $65.00 in a Wednesday 9 report. february. Stifel Nicolaus cut his price target on Penn National Gaming shares from $73.00 to $59.00 in a Wednesday, January 19 report. Finally, Wells Fargo & Company cut its price target on Penn National Gaming shares from $52.00 to $50.00 and set an “equal weight” rating on the stock in a Wednesday, April 13 report. . Eight investment analysts gave the stock a hold rating and twelve gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $67.68.
In related news, director Jane Scaccetti acquired 1,975 shares of the company in a transaction that took place on Thursday, February 17. The shares were purchased at an average cost of $49.70 per share, for a total transaction of $98,157.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. 1.81% of the shares are currently held by insiders.
A number of hedge funds and other institutional investors have recently changed their holdings of PENN. US Capital Wealth Advisors LLC acquired a new position in Penn National Gaming during the third quarter worth approximately $312,000. ING Groep NV increased its position in Penn National Gaming by 7.9% during the third quarter. ING Groep NV now owns 13,163 shares in the company valued at $954,000 after acquiring an additional 963 shares in the last quarter. The New York State Common Retirement Fund increased its position in Penn National Gaming by 7.5% during the third quarter. The New York State Common Retirement Fund now owns 204,665 shares of the company valued at $14,830,000 after acquiring 14,221 additional shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Penn National Gaming by 15.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 244,871 shares of the company valued at $17,743,000 after acquiring 32,556 additional shares in the last quarter. Finally, Dupont Capital Management Corp increased its position in Penn National Gaming by 11.8% during the third quarter. Dupont Capital Management Corp now owns 7,875 shares of the company valued at $571,000 after acquiring 831 additional shares in the last quarter. Institutional investors and hedge funds hold 79.40% of the company’s shares.
PENN Stock opened at $36.69 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a leverage ratio of 2.78. Penn National Gaming has a 12 month minimum of $35.70 and a 12 month maximum of $96.24. The company has a market capitalization of $6.18 billion, a P/E ratio of 14.68 and a beta of 2.40. The company’s 50-day moving average price is $42.76 and its two-hundred-day moving average price is $50.35.
Penn National Gaming said its board of directors authorized a stock repurchase program on Thursday, Feb. 3 that allows the company to repurchase $750.00 million of outstanding stock. This repurchase authorization authorizes the company to repurchase up to 9.8% of its shares through purchases on the open market. Stock buyback programs usually indicate that the company’s management believes its stock is undervalued.
About Penn National Gaming (Get a rating)
Penn National Gaming, Inc., together with its subsidiaries, owns and manages gaming and racing properties, and operates video game terminals. It operates through five segments: Northeast, South, West, Midwest, Interactive. The Company offers casino games, online games, live racing, sports betting and digital sports content.
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