Analysts Set Penn National Gaming (PENN) Price Target at $30.89

Shares of Penn National Gaming (NASDAQ:PENN) have earned an average rating of “Buy” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $30.89.

PENN has been the topic of a number of recent research reports. Union Gaming Research upped their target price on shares of Penn National Gaming to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. BidaskClub raised shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 16th. Jefferies Group initiated coverage on shares of Penn National Gaming in a research report on Thursday, January 18th. They issued a “buy” rating and a $39.00 target price on the stock. Deutsche Bank reaffirmed a “buy” rating and issued a $38.00 target price (up from $32.00) on shares of Penn National Gaming in a research report on Monday, January 22nd. Finally, Telsey Advisory Group initiated coverage on shares of Penn National Gaming in a research report on Tuesday, March 13th. They issued an “outperform” rating and a $33.00 target price on the stock.

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Shares of Penn National Gaming stock opened at $26.28 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of -64.22. The firm has a market cap of $2,429.43, a price-to-earnings ratio of 40.77 and a beta of 1.44. Penn National Gaming has a 12-month low of $17.56 and a 12-month high of $33.30.

Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, February 8th. The company reported ($3.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($3.58). The business had revenue of $769.00 million during the quarter, compared to analysts’ expectations of $766.82 million. Penn National Gaming had a negative return on equity of 27.80% and a net margin of 15.97%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share. analysts forecast that Penn National Gaming will post 1.48 earnings per share for the current year.

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

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

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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.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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