Stock analysts offer guidance for Penn National Gaming, Inc.’s earnings for fiscal 2021 (NASDAQ: PENN)
Penn National Gaming, Inc. (NASDAQ: PENN) – Stock analysts at Truist Securiti lowered their earnings per share (EPS) estimates for fiscal 2021 for Penn National Gaming in a research report released Thursday, August 5. Truist Securiti analyst B. Jonas now expects the company to post earnings of $ 3.08 per share for the year, down from its previous estimate of $ 3.33. Truist Securiti also released Penn National Gaming earnings estimates for the fourth quarter of 2021 at $ 0.66 EPS. Penn National Gaming (NASDAQ: PENN) last reported its quarterly results on Thursday, August 5. The company reported EPS of $ 1.17 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.93 of $ 0.24. Penn National Gaming had a net margin of 0.81% and a return on equity of 1.27%. The company posted revenue of $ 1.55 billion for the quarter, compared to analysts’ estimates of $ 1.50 billion. In the same quarter of the previous year, the company posted EPS ($ 1.69). Penn National Gaming’s quarterly revenue grew 406.0% year-on-year.
Other research analysts have also published reports on the stock. Needham & Company LLC lowered its target price for Penn National Gaming stock from $ 151.00 to $ 115.00 and set a “buy” rating on the stock in a research note Friday. TheStreet downgraded Penn National Gaming’s stock from a “d +” rating to a “c” rating in a research note on Monday, May 10. The Goldman Sachs group lowered its target price for Penn National Gaming stock from $ 149.00 to $ 124.00 and set a “buy” rating on the stock in a research note on Wednesday, July 28. Zacks investment research downgraded Penn National Gaming’s stock from a “conservation” rating to a “strong sell” rating and set a target price of $ 86.00 for the stock. in a research note on Thursday April 15. Finally, Redburn Partners began covering shares of Penn National Gaming in a report on Tuesday, April 27. They issued a “buy” note to the company. Three investment analysts gave the stock a sell rating, three assigned a conservation rating and eleven gave the stock a buy rating. Penn National Gaming has a consensus rating of “Hold” and a consensus price target of $ 104.28.
NASDAQ: PENN open for $ 71.84 Monday. Penn National Gaming has a one-year low at $ 44.50 and a one-year high at $ 142.00. The company has a fifty-day moving average price of $ 74.67. The company has a quick ratio of 2.48, a current ratio of 2.48, and a debt ratio of 2.33. The company has a market cap of $ 11.23 billion, a price-to-earnings ratio of -513.11 and a beta of 2.55.
Several large investors have recently increased or reduced their holdings in PENN. Norges Bank purchased a new position in Penn National Gaming during the 4th quarter, valued at approximately $ 117,679,000. Geode Capital Management LLC increased its stake in Penn National Gaming by 40.3% in the 1st quarter. Geode Capital Management LLC now owns 3,386,546 shares of the company valued at $ 354,592,000 after purchasing an additional 972,871 shares during the last quarter. Fred Alger Management LLC increased its stake in Penn National Gaming by 179.3% during the 1st quarter. Fred Alger Management LLC now owns 1,404,741 shares of the company valued at $ 147,273,000 after purchasing an additional 901,788 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Penn National Gaming by 30.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,858,948 shares of the company valued at $ 194,892,000 after purchasing an additional 430,912 shares during the last quarter. Finally, Cambiar Investors LLC purchased a new position in Penn National Gaming during the 2nd quarter for a value of approximately $ 28,301,000. 85.89% of the shares are held by institutional investors.
Penn National Gaming Company Profile
Penn National Gaming, Inc., along with its subsidiaries, owns and operates gaming and racing properties, and operates video game terminals. It operates through four segments: Northeast, South, West and Midwest. The Company operates live sports betting sites in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, Nevada, Pennsylvania and West Virginia; Barstool Sports, an online sports betting application in Pennsylvania; and online social casino, bingo and online casinos under the iGaming name in Pennsylvania and Michigan.
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