Penn National Gaming, Inc. (NASDAQ:PENN) has received an average rating of “Buy” from the thirteen brokerages that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $20.67.

A number of brokerages have issued reports on PENN. BidaskClub upgraded Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Deutsche Bank AG restated a “buy” rating and set a $25.00 price objective (up from $22.00) on shares of Penn National Gaming in a research report on Thursday, June 22nd. Instinet restated a “neutral” rating and set a $21.00 price objective (up from $19.00) on shares of Penn National Gaming in a research report on Monday, June 19th. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $23.00 price objective on shares of Penn National Gaming in a research report on Friday, July 14th.

TRADEMARK VIOLATION NOTICE: “Penn National Gaming, Inc. (PENN) Receives Consensus Rating of “Buy” from Brokerages” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/09/16/penn-national-gaming-inc-penn-receives-consensus-rating-of-buy-from-brokerages.html.

Penn National Gaming (NASDAQ PENN) traded down 0.04% during trading on Friday, reaching $22.52. The company had a trading volume of 878,479 shares. The company has a market capitalization of $2.05 billion, a PE ratio of 28.29 and a beta of 0.99. Penn National Gaming has a one year low of $11.93 and a one year high of $23.03. The firm’s 50 day moving average is $21.31 and its 200 day moving average is $19.59.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.72%. The company had revenue of $796.50 million for the quarter, compared to analysts’ expectations of $788.65 million. During the same quarter last year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts predict that Penn National Gaming will post $0.61 earnings per share for the current year.

In other Penn National Gaming news, Director Jane Scaccetti bought 4,675 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were purchased at an average price of $21.47 per share, with a total value of $100,372.25. Following the completion of the purchase, the director now owns 9,975 shares in the company, valued at approximately $214,163.25. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Carl Sottosanti sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $22.00, for a total value of $440,000.00. Following the transaction, the executive vice president now directly owns 45,831 shares in the company, valued at approximately $1,008,282. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Penn National Gaming by 138,953.6% during the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock valued at $163,992,000 after buying an additional 8,891,641 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Penn National Gaming by 5.8% during the second quarter. Vanguard Group Inc. now owns 7,344,994 shares of the company’s stock valued at $157,183,000 after buying an additional 405,172 shares during the last quarter. FMR LLC grew its stake in shares of Penn National Gaming by 689.3% during the second quarter. FMR LLC now owns 5,132,702 shares of the company’s stock valued at $109,840,000 after buying an additional 4,482,402 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Penn National Gaming by 35.1% during the second quarter. Bank of New York Mellon Corp now owns 2,393,714 shares of the company’s stock valued at $51,225,000 after buying an additional 622,482 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Penn National Gaming by 8.6% during the second quarter. State Street Corp now owns 1,971,391 shares of the company’s stock valued at $42,183,000 after buying an additional 156,455 shares during the last quarter. 95.31% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

Receive News & Ratings for Penn National Gaming Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc. and related companies with MarketBeat.com's FREE daily email newsletter.