Brokerages Anticipate Penn National Gaming, Inc. (NASDAQ:PENN) Will Post Earnings of $0.28 Per Share


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Equities research analysts predict that Penn National Gaming, Inc. (NASDAQ:PENN) will report earnings of $0.28 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Penn National Gaming’s earnings. The lowest EPS estimate is $0.02 and the highest is $0.49. Penn National Gaming reported earnings of $0.06 per share in the same quarter last year, which would indicate a positive year over year growth rate of 366.7%. The firm is expected to issue its next quarterly earnings results on Thursday, May 6th.

On average, analysts expect that Penn National Gaming will report full-year earnings of $1.67 per share for the current year, with EPS estimates ranging from $1.18 to $2.10. For the next year, analysts anticipate that the business will post earnings of $2.27 per share, with EPS estimates ranging from $1.55 to $2.90. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 4th. The company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.14). Penn National Gaming had a negative net margin of 19.86% and a negative return on equity of 8.73%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned ($0.80) earnings per share. The firm’s revenue for the quarter was down 23.4% on a year-over-year basis.

PENN has been the subject of a number of research analyst reports. Rosenblatt Securities lifted their price objective on shares of Penn National Gaming from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, February 5th. Stifel Nicolaus lifted their price objective on shares of Penn National Gaming from $100.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, February 2nd. Loop Capital downgraded shares of Penn National Gaming from a “hold” rating to a “sell” rating in a report on Thursday, January 14th. Bank of America lifted their price objective on shares of Penn National Gaming from $85.00 to $101.00 in a report on Friday, December 18th. Finally, KeyCorp began coverage on shares of Penn National Gaming in a report on Wednesday, January 13th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.93.

In related news, Chairman Peter M. Carlino sold 3,000,000 shares of the business’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $123.80, for a total transaction of $371,400,000.00. Following the transaction, the chairman now owns 596,453 shares in the company, valued at $73,840,881.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Saul Reibstein sold 10,000 shares of the business’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $124.98, for a total transaction of $1,249,800.00. Following the transaction, the director now owns 38,344 shares in the company, valued at approximately $4,792,233.12. The disclosure for this sale can be found here. Insiders sold 3,093,371 shares of company stock worth $383,945,497 in the last 90 days. Corporate insiders own 1.81% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Leverage Partners Absolute Return Fund SPC purchased a new position in shares of Penn National Gaming during the fourth quarter valued at about $1,954,000. Retirement Systems of Alabama increased its position in shares of Penn National Gaming by 1.4% during the fourth quarter. Retirement Systems of Alabama now owns 403,736 shares of the company’s stock valued at $34,871,000 after buying an additional 5,534 shares during the period. Isomer Partners LP increased its position in shares of Penn National Gaming by 8.3% during the fourth quarter. Isomer Partners LP now owns 650,000 shares of the company’s stock valued at $56,140,000 after buying an additional 50,000 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Penn National Gaming by 22.3% during the third quarter. UBS Asset Management Americas Inc. now owns 187,101 shares of the company’s stock valued at $13,602,000 after buying an additional 34,157 shares during the period. Finally, Domani Wealth LLC purchased a new position in shares of Penn National Gaming during the fourth quarter valued at about $219,000. Institutional investors own 87.48% of the company’s stock.

Shares of NASDAQ PENN traded up $4.32 during mid-day trading on Thursday, reaching $106.69. 3,300,709 shares of the company were exchanged, compared to its average volume of 5,246,012. Penn National Gaming has a 52 week low of $12.80 and a 52 week high of $142.00. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $16.70 billion, a PE ratio of -15.34 and a beta of 2.79. The company’s 50 day moving average price is $115.02 and its 200 day moving average price is $90.12.

Penn National Gaming Company Profile

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. It also offers live sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia; and operates online casino under the name of iCasino in Pennsylvania.

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Earnings History and Estimates for Penn National Gaming (NASDAQ:PENN)

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