Penn National Gaming, Inc. (PENN) Receives Average Recommendation of “Buy” from Analysts
Penn National Gaming, Inc. (NASDAQ:PENN) has been given a consensus rating of “Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $21.30.
PENN has been the subject of several recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $25.00 price objective (up previously from $22.00) on shares of Penn National Gaming in a research note on Thursday, June 22nd. BidaskClub cut Penn National Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, July 5th. Stifel Nicolaus reiterated a “buy” rating and issued a $23.00 price objective on shares of Penn National Gaming in a research note on Friday, July 14th. Finally, Telsey Advisory Group lifted their price objective on Penn National Gaming from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, July 28th.
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Penn National Gaming (PENN) traded up 0.64% during mid-day trading on Wednesday, reaching $23.70. 712,744 shares of the company were exchanged. Penn National Gaming has a 1-year low of $11.93 and a 1-year high of $24.74. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 29.77 and a beta of 0.97. The stock’s 50-day moving average price is $22.52 and its 200-day moving average price is $20.62.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.07). The company had revenue of $796.50 million during the quarter, compared to analysts’ expectations of $788.65 million. Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.72%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. On average, equities research analysts anticipate that Penn National Gaming will post $0.61 EPS for the current fiscal year.
In related news, CEO Timothy J. Wilmott sold 84,436 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $24.12, for a total transaction of $2,036,596.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy J. Wilmott sold 5,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $23.02, for a total value of $124,308.00. Following the sale, the chief executive officer now owns 460,600 shares of the company’s stock, valued at approximately $10,603,012. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 282,755 shares of company stock valued at $6,492,534. 10.17% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its stake in Penn National Gaming by 1,461.6% during the second quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after purchasing an additional 4,677 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Penn National Gaming during the first quarter worth approximately $128,000. Oppenheimer Asset Management Inc. purchased a new stake in Penn National Gaming during the first quarter worth approximately $134,000. Oppenheimer & Co. Inc. purchased a new stake in Penn National Gaming during the second quarter worth approximately $206,000. Finally, Royal Bank of Canada lifted its stake in Penn National Gaming by 209.1% during the second quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock worth $212,000 after purchasing an additional 6,692 shares during the last quarter. Hedge funds and other institutional investors own 95.31% of the company’s stock.
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 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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