Instinet Reiterates Neutral Rating for Penn National Gaming, Inc. (PENN)
Penn National Gaming, Inc. (NASDAQ:PENN)‘s stock had its “neutral” rating reaffirmed by equities researchers at Instinet in a research report issued to clients and investors on Monday. They currently have a $21.00 price target on the stock, up from their prior price target of $19.00. Instinet’s price target indicates a potential downside of 2.51% from the stock’s current price.
PENN has been the subject of a number of other reports. FBR & Co reaffirmed an “outperform” rating and issued a $23.00 target price (up from $20.00) on shares of Penn National Gaming in a report on Monday, April 10th. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, April 6th. Stifel Nicolaus increased their price target on shares of Penn National Gaming from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, May 16th. Barclays PLC increased their price target on shares of Penn National Gaming from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, May 3rd. Finally, BidaskClub raised shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.64.
Penn National Gaming (NASDAQ PENN) traded up 0.51% during trading on Monday, hitting $21.54. The company’s stock had a trading volume of 916,575 shares. The firm has a market cap of $1.96 billion, a PE ratio of 21.80 and a beta of 0.99. Penn National Gaming has a one year low of $11.93 and a one year high of $22.19. The company has a 50-day moving average of $19.68 and a 200 day moving average of $16.35.
Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, April 27th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by $0.02. Penn National Gaming had a net margin of 2.97% and a negative return on equity of 19.08%. The business had revenue of $776.20 million during the quarter, compared to analysts’ expectations of $769.81 million. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Penn National Gaming will post $0.63 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new position in shares of Penn National Gaming during the first quarter worth about $128,000. Van ECK Associates Corp boosted its position in shares of Penn National Gaming by 9.2% in the fourth quarter. Van ECK Associates Corp now owns 9,429 shares of the company’s stock worth $130,000 after buying an additional 795 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Penn National Gaming during the first quarter worth about $134,000. State of Alaska Department of Revenue bought a new position in shares of Penn National Gaming during the first quarter worth about $168,000. Finally, Amalgamated Bank bought a new position in shares of Penn National Gaming during the first quarter worth about $195,000. 94.55% of the stock is owned by institutional investors.
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 operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
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