Penn National Gaming, Inc (NASDAQ:PENN) Expected to Post Earnings of $0.37 Per Share

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Brokerages predict that Penn National Gaming, Inc (NASDAQ:PENN) will report $0.37 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have provided estimates for Penn National Gaming’s earnings, with estimates ranging from $0.35 to $0.40. Penn National Gaming reported earnings of ($0.37) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 200%. The business is expected to report its next quarterly earnings report on Thursday, February 6th.

According to Zacks, analysts expect that Penn National Gaming will report full year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.52 to $1.56. For the next fiscal year, analysts anticipate that the business will post earnings of $2.13 per share, with EPS estimates ranging from $1.97 to $2.21. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, October 31st. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.03). Penn National Gaming had a net margin of 1.85% and a return on equity of 5.88%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue was up 71.5% compared to the same quarter last year.

A number of research firms have weighed in on PENN. BidaskClub raised Penn National Gaming from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Friday, October 18th. TheStreet upgraded Penn National Gaming from a “c+” rating to a “b-” rating in a research report on Tuesday, September 24th. Jefferies Financial Group cut Penn National Gaming from a “buy” rating to a “hold” rating and reduced their price target for the stock from $25.00 to $23.00 in a research report on Friday, November 1st. Finally, ValuEngine upgraded Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.31.

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. increased its position in Penn National Gaming by 110.7% in the third quarter. Meeder Asset Management Inc. now owns 2,848 shares of the company’s stock worth $53,000 after buying an additional 1,496 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Penn National Gaming in the third quarter worth about $68,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Penn National Gaming in the third quarter worth about $93,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Penn National Gaming by 17.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock worth $131,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Penn National Gaming during the second quarter worth about $201,000. Institutional investors and hedge funds own 98.83% of the company’s stock.

PENN stock opened at $26.34 on Monday. Penn National Gaming has a fifty-two week low of $16.72 and a fifty-two week high of $27.50. The business’s 50-day moving average is $25.04 and its two-hundred day moving average is $21.01. The company has a debt-to-equity ratio of 5.75, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 0.38 and a beta of 1.72.

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 four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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