Wall Street brokerages expect that Penn National Gaming, Inc. (NASDAQ:PENN) will post sales of $793.19 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Penn National Gaming’s earnings, with the highest sales estimate coming in at $796.80 million and the lowest estimate coming in at $790.44 million. Penn National Gaming reported sales of $765.60 million during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The business is expected to issue its next quarterly earnings results on Thursday, October 26th.

According to Zacks, analysts expect that Penn National Gaming will report full year sales of $793.19 million for the current year, with estimates ranging from $3.12 billion to $3.13 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.21 billion per share, with estimates ranging from $3.19 billion to $3.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.07). The firm had revenue of $796.50 million for the quarter, compared to the consensus estimate 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 revenue was up 3.5% on a year-over-year basis. During the same period last year, the company posted $0.37 earnings per share.

PENN has been the topic of a number of recent analyst reports. Deutsche Bank AG reissued a “buy” rating and set a $25.00 price target (up from $22.00) on shares of Penn National Gaming in a report on Thursday, June 22nd. BidaskClub downgraded shares of Penn National Gaming from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating and set a $23.00 price target on shares of Penn National Gaming in a report on Friday, July 14th. Finally, Telsey Advisory Group increased their price target on shares of Penn National Gaming from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Penn National Gaming has an average rating of “Buy” and an average target price of $21.50.

Penn National Gaming (PENN) opened at 23.70 on Thursday. The stock’s 50 day moving average is $22.60 and its 200 day moving average is $20.64. Penn National Gaming has a 52 week low of $11.93 and a 52 week high of $24.74. The company has a market capitalization of $2.16 billion, a P/E ratio of 29.77 and a beta of 0.97.

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In related news, insider Jay A. Snowden sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $20.86, for a total transaction of $1,043,000.00. Following the completion of the sale, the insider now directly owns 86,281 shares in the company, valued at $1,799,821.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy J. Wilmott sold 84,436 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $24.12, for a total transaction of $2,036,596.32. The disclosure for this sale can be found here. Insiders sold 282,755 shares of company stock valued at $6,492,534 over the last quarter. Company insiders own 10.17% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Penn National Gaming by 138,953.6% during the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock worth $163,992,000 after purchasing an additional 8,891,641 shares during the last quarter. Vanguard Group Inc. increased its position in Penn National Gaming by 5.8% during the second quarter. Vanguard Group Inc. now owns 7,344,994 shares of the company’s stock worth $157,183,000 after purchasing an additional 405,172 shares during the last quarter. FMR LLC increased its position in Penn National Gaming by 689.3% during the second quarter. FMR LLC now owns 5,132,702 shares of the company’s stock worth $109,840,000 after purchasing an additional 4,482,402 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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 worth $51,225,000 after purchasing an additional 622,482 shares during the last quarter. Finally, State Street Corp increased its position in Penn National Gaming by 8.6% during the second quarter. State Street Corp now owns 1,971,391 shares of the company’s stock worth $42,183,000 after purchasing an additional 156,455 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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Earnings History and Estimates for Penn National Gaming (NASDAQ:PENN)

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