Zacks Investment Research cut shares of Penn National Gaming Inc. (NASDAQ:PENN) from a hold rating to a sell rating in a report published on Friday.

According to Zacks, “Penn National Gaming, Inc. are a diversified gaming and pari-mutuel wagering company. Their business strategy is focused on exploiting the higher margins and more stable cash flows associated with gaming operations compared to pari-mutuel operations. “

Several other analysts have also recently commented on PENN. Deutsche Bank AG restated a buy rating on shares of Penn National Gaming in a research note on Sunday, June 26th. Telsey Advisory Group reduced their target price on shares of Penn National Gaming from $25.00 to $21.00 and set an outperform rating for the company in a research note on Friday, July 29th. Macquarie upgraded shares of Penn National Gaming from a neutral rating to an outperform rating and set a $20.00 target price for the company in a research note on Thursday, June 30th. Finally, Union Gaming Research upgraded shares of Penn National Gaming from a hold rating to a buy rating in a research note on Tuesday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $18.86.

Penn National Gaming (NASDAQ:PENN) traded up 1.05% during trading on Friday, reaching $14.50. 700,823 shares of the company were exchanged. The firm has a market capitalization of $1.21 billion, a PE ratio of 24.62 and a beta of 0.88. The stock has a 50 day moving average price of $13.82 and a 200 day moving average price 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 released its earnings results on Thursday, July 28th. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ 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 company earned $769.40 million during the quarter, compared to analysts’ expectations of $785.06 million. During the same quarter last year, the business earned $0.03 EPS. The business’s revenue was up 9.8% on a year-over-year basis. On average, analysts expect that Penn National Gaming will post $1.07 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Penn National Gaming by 61.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 100,369 shares of the company’s stock worth $1,675,000 after buying an additional 38,025 shares during the period. Teachers Advisors Inc. increased its stake in shares of Penn National Gaming by 4.0% in the first quarter. Teachers Advisors Inc. now owns 121,389 shares of the company’s stock worth $2,026,000 after buying an additional 4,653 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Penn National Gaming during the first quarter worth approximately $1,468,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of Penn National Gaming by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,885,411 shares of the company’s stock worth $31,468,000 after buying an additional 21,890 shares during the period. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Penn National Gaming during the first quarter worth approximately $100,000. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Penn National Gaming

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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