Zacks: Brokerages Expect Penn National Gaming, Inc (PENN) Will Post Earnings of $0.18 Per Share
Wall Street brokerages expect Penn National Gaming, Inc (NASDAQ:PENN) to post earnings per share (EPS) of $0.18 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Penn National Gaming’s earnings. The lowest EPS estimate is $0.17 and the highest is $0.20. Penn National Gaming reported earnings per share of $0.05 in the same quarter last year, which would suggest a positive year-over-year growth rate of 260%. The firm is expected to issue its next earnings report on Thursday, February 1st.
On average, analysts expect that Penn National Gaming will report full-year earnings of $8.89 per share for the current financial year, with EPS estimates ranging from $8.85 to $8.91. For the next year, analysts forecast that the company will post earnings of $1.36 per share, with EPS estimates ranging from $1.08 to $1.65. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Penn National Gaming.
Several equities analysts have recently weighed in on the stock. Deutsche Bank raised their price objective on shares of Penn National Gaming from $29.00 to $32.00 in a research report on Monday, December 18th. TheStreet upgraded shares of Penn National Gaming from a “c+” rating to a “b+” rating in a research report on Monday, November 13th. BidaskClub lowered shares of Penn National Gaming from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 5th. Union Gaming Research raised their price objective on shares of Penn National Gaming to $35.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Stifel Nicolaus restated a “buy” rating and set a $33.00 price objective on shares of Penn National Gaming in a research report on Monday, December 18th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $26.55.
Institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its position in Penn National Gaming by 6.9% during the second quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock valued at $159,000 after acquiring an additional 482 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Penn National Gaming during the second quarter valued at approximately $206,000. Royal Bank of Canada raised its position 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 valued at $212,000 after acquiring an additional 6,692 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Penn National Gaming by 82.8% during the third quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock valued at $214,000 after purchasing an additional 4,138 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Penn National Gaming by 3.8% during the second quarter. Amalgamated Bank now owns 10,962 shares of the company’s stock valued at $235,000 after purchasing an additional 405 shares during the last quarter. 97.53% of the stock is currently owned by hedge funds and other institutional investors.
Penn National Gaming (NASDAQ PENN) opened at $31.01 on Wednesday. The stock has a market cap of $2,830.00, a PE ratio of 3.55, a P/E/G ratio of 4.11 and a beta of 1.38. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. Penn National Gaming has a 12-month low of $13.00 and a 12-month high of $31.65.
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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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