Penn National Gaming (PENN) Releases Quarterly Earnings Results
Penn National Gaming (NASDAQ:PENN) posted its quarterly earnings results on Thursday. The company reported $0.43 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.46 by $0.03, American Banking & Market News reports. The company had revenue of $714.40 million for the quarter, compared to the consensus estimate of $724.65 million. During the same quarter last year, the company posted $0.57 earnings per share.
In other Penn National Gaming news, Director Harold Cramer sold 140,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $55.61, for a total value of $7,785,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on PENN. Analysts at RBC Capital raised their price target on shares of Penn National Gaming from $57.00 to $59.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. On the ratings front, analysts at JPMorgan Chase & Co. raised their price target on shares of Penn National Gaming from $59.00 to $64.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Penn National Gaming from $60.00 to $64.00 in a research note to investors on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.01.
Penn National Gaming (NASDAQ:PENN) opened at 55.62 on Thursday. Penn National Gaming has a 52 week low of $37.00 and a 52 week high of $59.93. The stock’s 50-day moving average is $55.25 and its 200-day moving average is $54.70. The company has a market cap of $4.367 billion and a P/E ratio of 47.74.
Penn National Gaming, Inc (NASDAQ:PENN) is a diversified owner and manager of gaming and pari-mutuel properties.
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