Penn National Gaming Inc. (NASDAQ:PENN) Given Average Recommendation of “Buy” by Brokerages
Shares of Penn National Gaming Inc. (NASDAQ:PENN) have received a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $18.56.
Several research analysts have recently commented on the company. Union Gaming Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Tuesday, October 4th. Zacks Investment Research downgraded Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Telsey Advisory Group reduced their target price on 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. Deutsche Bank AG reiterated a “buy” rating on shares of Penn National Gaming in a research note on Sunday, June 26th. Finally, Macquarie upgraded 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.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. boosted its position in Penn National Gaming by 3.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,958,497 shares of the company’s stock worth $27,321,000 after buying an additional 73,086 shares during the period. Renaissance Technologies LLC boosted its position in Penn National Gaming by 34.8% in the first quarter. Renaissance Technologies LLC now owns 1,946,100 shares of the company’s stock worth $32,480,000 after buying an additional 502,000 shares during the period. Ameriprise Financial Inc. boosted its position in Penn National Gaming by 14.2% in the second quarter. Ameriprise Financial Inc. now owns 1,872,848 shares of the company’s stock worth $26,128,000 after buying an additional 232,664 shares during the period. Chartwell Investment Partners LLC acquired a new position in Penn National Gaming during the second quarter worth approximately $25,286,000. Finally, Victory Capital Management Inc. boosted its position in Penn National Gaming by 12.4% in the second quarter. Victory Capital Management Inc. now owns 1,764,415 shares of the company’s stock worth $24,614,000 after buying an additional 195,142 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.
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Penn National Gaming (NASDAQ:PENN) traded up 1.010% during midday trading on Monday, hitting $14.495. The stock had a trading volume of 895,707 shares. The firm has a 50-day moving average price of $13.82 and a 200-day moving average price of $14.86. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 24.610 and a beta of 0.88. Penn National Gaming has a 1-year low of $12.50 and a 1-year high of $19.05.
Penn National Gaming (NASDAQ:PENN) last issued 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 negative return on equity of 8.21% and a net margin of 1.79%. The company earned $769.40 million during the quarter, compared to the consensus estimate of $785.06 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Penn National Gaming will post $1.07 earnings per share for the current year.
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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