Penn National Gaming, Inc. (NASDAQ: PENN) Receives Analyst ‘Buy’ Consensus Recommendation
Penn National Gaming, Inc. (NASDAQ: PENN) received a consensus recommendation to “Buy” from the nineteen analysts who currently cover the stock, reports MarketBeat.com. One equity research analyst rated the stock with a sell rating, four assigned a conservation rating, and eleven assigned a buy rating to the company. The one-year average price target among brokerage firms that hedged the stock in the past year is $ 115.86.
PENN has been the subject of a number of research analyst reports. Needham & Company LLC reduced its price target for Penn National Gaming stock from $ 151.00 to $ 115.00 and set a “buy” rating for the company in a research report on Friday, August 6. Wells Fargo & Company provided coverage on the shares of Penn National Gaming in a research report on Tuesday, September 14. They set an “equal weight” rating and a price target of $ 82.00 for the company. Capital One Financial launched coverage on Penn National Gaming shares in a research report on Wednesday, September 1. They set an “overweight” rating for the company. Zacks Investment Research downgraded Penn National Gaming shares from a “buy” rating to a “hold” rating and set a price target of $ 75.00 for the company. in a research report on Tuesday August 10. Finally, the Goldman Sachs group lowered its price target on Penn National Gaming shares from $ 149.00 to $ 124.00 and set a “buy” rating for the company in a research report released on Wednesday, July 28. .
NASDAQ: PENN opened at $ 73.09 on Friday. Penn National Gaming has a one-year low of $ 52.09 and a one-year high of $ 142.00. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt ratio of 2.16. The company has a fifty-day simple moving average of $ 74.74 and a 200-day simple moving average of $ 80.97. The stock has a market cap of $ 11.46 billion, a PE ratio of 26.87 and a beta of 2.55.
Penn National Gaming (NASDAQ: PENN) last released its results on Thursday, August 5. The company reported earnings per share of $ 1.17 for the quarter, beating the consensus estimate of $ 0.93 by $ 0.24. Penn National Gaming had a net margin of 8.89% and a return on equity of 16.24%. The company reported $ 1.55 billion in revenue in the quarter, compared to analysts’ expectations of $ 1.50 billion. During the same period last year, the company made earnings per share ($ 1.69). The company’s revenue increased 406.0% year-over-year. On average, stock analysts forecast Penn National Gaming to post earnings per share of 3.21 for the current fiscal year.
In other Penn National Gaming news, CEO Jay A. Snowden sold 14,900 shares of Penn National Gaming in a trade dated Monday, September 13. The stock was sold for an average price of $ 80.46, for a total value of $ 1,198,854.00. As a result of the transaction, the CEO now owns 545,396 shares of the company, valued at $ 43,882,562.16. The transaction was disclosed in a document filed with the SEC, accessible through this hyperlink. Additionally, CEO Jay A. Snowden sold 148,387 shares of Penn National Gaming in a trade dated Monday, October 4. The shares were sold for an average price of $ 77.23, for a total value of $ 11,459,928.01. Disclosure of this sale can be found here. 1.81% of the capital is held by insiders.
Institutional investors have recently increased or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in Penn National Gaming in the first quarter valued at approximately $ 26,000. E Fund Management Co. Ltd. bought a new position in Penn National Gaming in the first quarter, valued at around $ 27,000. Danda Trouve Investment Management Inc. purchased a new position in Penn National Gaming in the second quarter valued at approximately $ 28,000. CSat Investment Advisory LP purchased a new position in Penn National Gaming in the first quarter valued at approximately $ 34,000. Finally, Capital Analysts LLC increased its holdings of Penn National Gaming shares by 242.1% during the second quarter. Capital Analysts LLC now owns 496 shares of the company valued at $ 38,000 after purchasing an additional 351 shares in the last quarter. Hedge funds and other institutional investors hold 83.16% of the company’s shares.
Penn National Gaming Company Profile
Penn National Gaming, Inc. owns and operates gaming and racing facilities and video game terminal operations with an emphasis on slot machine entertainment. It operates in the following business segments: Northeast, South, West and Midwest, and Others. The Northeast segment includes properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.
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