Penn National Gaming Inc. (NASDAQ:PENN) Given Average Recommendation of “Buy” by Brokerages
Shares of Penn National Gaming Inc. (NASDAQ:PENN) have been assigned an average recommendation of “Buy” from the twelve analysts that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.56.
PENN has been the topic of several research reports. Macquarie upgraded shares of Penn National Gaming from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a research report on Thursday, June 30th. Union Gaming Research upgraded shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Tuesday, October 4th. Zacks Investment Research cut shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Friday. Telsey Advisory Group dropped their price target on shares of Penn National Gaming from $25.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Penn National Gaming in a research report on Sunday, June 26th.
Penn National Gaming (NASDAQ:PENN) traded up 1.010% during trading on Monday, reaching $14.495. 895,707 shares of the company’s stock traded hands. The stock has a market capitalization of $1.21 billion, a P/E ratio of 24.610 and a beta of 0.88. The company has a 50-day moving average of $13.82 and a 200 day moving average of $14.86. Penn National Gaming has a 12 month low of $12.50 and a 12 month high of $19.05.
Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.29 by $0.09. Penn National Gaming had a net margin of 1.79% and a negative return on equity of 8.21%. The firm had revenue of $769.40 million for the quarter, compared to analysts’ expectations of $785.06 million. During the same period in the previous year, the business earned $0.03 earnings per share. Penn National Gaming’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Penn National Gaming will post $1.07 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC acquired a new position in shares of Penn National Gaming during the first quarter worth $100,000. BNP Paribas Arbitrage SA boosted its stake in shares of Penn National Gaming by 169.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,743 shares of the company’s stock valued at $108,000 after buying an additional 4,866 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Penn National Gaming by 12.6% in the second quarter. Teacher Retirement System of Texas now owns 9,998 shares of the company’s stock valued at $139,000 after buying an additional 1,119 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Penn National Gaming during the second quarter valued at approximately $142,000. Finally, Quantitative Investment Management LLC purchased a new stake in shares of Penn National Gaming during the second quarter valued at approximately $147,000. Institutional investors own 99.52% of the company’s stock.
Penn National Gaming Company Profile
Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. The Company’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.
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