Analysts Set Penn National Gaming Inc. (PENN) Target Price at $18.44
Penn National Gaming Inc. (NASDAQ:PENN) has received a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.44.
PENN has been the topic of several recent research reports. Zacks Investment Research cut Penn National Gaming from a “hold” rating to a “sell” rating in a report on Friday, October 7th. Union Gaming Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a report on Tuesday, October 4th. Finally, Telsey Advisory Group decreased their price target on Penn National Gaming from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, October 28th.
Several large investors have recently added to or reduced their stakes in PENN. Penn Capital Management Co. Inc. acquired a new stake in Penn National Gaming during the third quarter worth approximately $6,550,000. HG Vora Capital Management LLC raised its stake in shares of Penn National Gaming by 235.0% in the third quarter. HG Vora Capital Management LLC now owns 3,350,000 shares of the company’s stock worth $45,460,000 after buying an additional 2,350,000 shares in the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Penn National Gaming during the third quarter worth about $21,720,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Penn National Gaming during the third quarter worth about $693,000. Finally, Hsbc Holdings PLC raised its stake in shares of Penn National Gaming by 5.3% in the third quarter. Hsbc Holdings PLC now owns 11,000 shares of the company’s stock worth $150,000 after buying an additional 557 shares in the last quarter.
Shares of Penn National Gaming (NASDAQ:PENN) opened at 13.76 on Monday. The firm’s 50-day moving average price is $13.32 and its 200 day moving average price is $14.19. Penn National Gaming has a 12-month low of $11.93 and a 12-month high of $17.40. The firm has a market cap of $1.15 billion, a P/E ratio of 13.17 and a beta of 0.89.
Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, October 27th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.28 by $0.23. The company had revenue of $765.60 million for the quarter, compared to analysts’ expectations of $757.06 million. Penn National Gaming had a negative return on equity of 15.31% and a net margin of 3.15%. The company’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that Penn National Gaming will post $1.01 earnings per share for the current fiscal year.
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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