Penn National Gaming (PENN) Expected to Announce Earnings of $0.41 Per Share

Equities analysts forecast that Penn National Gaming (NASDAQ:PENN) will post earnings of $0.41 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Penn National Gaming’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.39. Penn National Gaming reported earnings of $0.24 per share during the same quarter last year, which would suggest a positive year over year growth rate of 70.8%. The firm is expected to issue its next earnings report on Thursday, April 26th.

On average, analysts expect that Penn National Gaming will report full-year earnings of $1.48 per share for the current financial year, with EPS estimates ranging from $1.27 to $1.58. For the next fiscal year, analysts forecast that the business will report earnings of $1.66 per share, with EPS estimates ranging from $1.29 to $1.82. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Penn National Gaming.

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Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($3.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($3.58). Penn National Gaming had a net margin of 15.97% and a negative return on equity of 27.80%. The business had revenue of $769.00 million for the quarter, compared to analysts’ expectations of $766.82 million. During the same quarter in the previous year, the firm earned $0.05 EPS. Penn National Gaming’s revenue was up 3.5% compared to the same quarter last year.

A number of research firms recently issued reports on PENN. BidaskClub upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a report on Tuesday, March 27th. TheStreet cut Penn National Gaming from a “b-” rating to a “c” rating in a report on Wednesday, March 21st. Telsey Advisory Group began coverage on Penn National Gaming in a report on Tuesday, March 13th. They set an “outperform” rating and a $33.00 price objective for the company. Zacks Investment Research cut Penn National Gaming from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley dropped their price objective on Penn National Gaming from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.30.

PENN opened at $26.28 on Wednesday. Penn National Gaming has a 52-week low of $17.56 and a 52-week high of $33.30. The company has a debt-to-equity ratio of -64.22, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $2,384.50, a P/E ratio of 2.93 and a beta of 1.44.

In other news, insider Jay A. Snowden bought 10,560 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average cost of $25.98 per share, with a total value of $274,348.80. Following the transaction, the insider now directly owns 72,567 shares in the company, valued at approximately $1,885,290.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jane Scaccetti bought 2,500 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $27.51 per share, with a total value of $68,775.00. Following the completion of the transaction, the director now owns 14,831 shares in the company, valued at $408,000.81. The disclosure for this purchase can be found here. Insiders own 10.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PENN. New York State Common Retirement Fund raised its position in Penn National Gaming by 125.5% during the 3rd quarter. New York State Common Retirement Fund now owns 693,720 shares of the company’s stock valued at $16,226,000 after purchasing an additional 386,057 shares in the last quarter. Rhumbline Advisers raised its position in shares of Penn National Gaming by 2.6% in the 3rd quarter. Rhumbline Advisers now owns 173,787 shares of the company’s stock worth $4,065,000 after acquiring an additional 4,400 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Penn National Gaming by 242.3% in the 3rd quarter. SG Americas Securities LLC now owns 23,658 shares of the company’s stock worth $553,000 after acquiring an additional 16,746 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Penn National Gaming by 13.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 493,463 shares of the company’s stock worth $11,542,000 after acquiring an additional 57,288 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new position in shares of Penn National Gaming in the 3rd quarter worth $377,000. 98.54% of the stock is owned by institutional investors and hedge funds.

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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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