Equity research analysts expect Penn National Gaming, Inc. (NASDAQ: PENN – Get a rating) will announce sales of $1.53 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts provided earnings estimates for Penn National Gaming, with the highest sales estimate at $1.60 billion and the lowest estimate at $1.44 billion. Penn National Gaming reported sales of $1.27 billion in the same quarter last year, suggesting a positive growth rate of 20.5% year over year. The company is expected to release its next quarterly results before the market opens on Monday, January 1.
On average, analysts expect Penn National Gaming to report annual sales of $6.27 billion in the current fiscal year, with estimates ranging from $6.17 billion to $6.38 billion. . For the next fiscal year, analysts expect the company to post sales of $6.51 billion, with estimates ranging from $6.39 billion to $6.64 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Penn National Gaming.
Penn National Gaming (NASDAQ: PENN – Get a rating) last reported quarterly earnings data on Thursday, February 3. The company reported earnings per share of $0.26 for the quarter, missing the consensus estimate of $0.46 per ($0.20). Penn National Gaming had a net margin of 7.13% and a return on equity of 13.17%. The company posted revenue of $1.57 billion for the quarter, versus analyst estimates of $1.51 billion. In the same quarter a year earlier, the company posted EPS of $0.07. Penn National Gaming’s revenue for the quarter increased 53.1% year over year.
PENN has been the subject of several research reports. Jefferies Financial Group lowered its price target on Penn National Gaming shares from $62.00 to $49.00 in a Friday, January 21 report. Craig Hallum lowered his price target on Penn National Gaming shares from $130.00 to $96.00 in a Tuesday, January 4 report. Loop Capital upgraded Penn National Gaming shares from a “sell” rating to a “hold” rating and lowered its target price for the stock from $53.00 to $49.00 in a Friday, February 4 report. . Roth Capital downgraded Penn National Gaming shares from a “buy” rating to a “neutral” rating and lowered its target price for the stock from $79.00 to $51.00 in a Friday, February 4 report . To finish, StockNews.com assumed coverage of Penn National Gaming stocks in a Thursday, March 31, report. They issued a “holding” rating on the stock. Eight analysts gave the stock a hold rating and eleven gave the company a buy rating. According to data from MarketBeat.com, Penn National Gaming has an average rating of “Buy” and an average target price of $67.68.
Shares of NASDAQ PENN opened at $37.88 on Friday. The company’s 50-day moving average price is $42.32 and its 200-day moving average price is $50.02. Penn National Gaming has a 1-year minimum of $35.60 and a 1-year maximum of $93.90. The company has a market capitalization of $6.38 billion, a P/E ratio of 15.15 and a beta of 2.40. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt ratio of 2.78.
Penn National Gaming said its board of directors authorized a stock repurchase plan on Thursday, Feb. 3 that allows the company to repurchase $750.00 million in stock. This repurchase authorization authorizes the company to repurchase up to 9.8% of its shares by way of purchases on the open market. Stock buyback plans are often a sign that a company’s management believes its stock is undervalued.
In related news, Director Jane Scaccetti purchased 1,975 shares of Penn National Gaming in a trade dated Thursday, February 17. The shares were purchased at an average cost of $49.70 per share, with a total value of $98,157.50. The acquisition was disclosed in a filing with the SEC, accessible via the SEC website. 1.81% of the shares are held by insiders.
Institutional investors have recently increased or reduced their stake in the company. Meeder Asset Management Inc. increased its stake in Penn National Gaming shares by 428.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 386 shares of the company valued at $28,000 after purchasing 313 additional shares during the period. Manchester Capital Management LLC purchased a new equity stake in Penn National Gaming during Q3 for $28,000. Bessemer Group Inc. purchased a new equity stake in Penn National Gaming during Q4 for $26,000. South Dakota’s Sageworth Trust Co bought a new stake in Penn National Gaming stock during Q4, valued at $25,000. Finally, Citizens National Bank Trust Department purchased a new equity stake in Penn National Gaming during Q4 for $26,000. 79.40% of the shares are held by hedge funds and other institutional investors.
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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