Penn National Gaming, Inc (PENN) Given Average Recommendation of “Buy” by Analysts

Penn National Gaming, Inc (NASDAQ:PENN) has received an average recommendation of “Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $27.58.

A number of analysts have recently weighed in on PENN shares. Zacks Investment Research upgraded shares of Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a report on Tuesday, January 9th. Stifel Nicolaus reissued a “buy” rating and issued a $33.00 price target on shares of Penn National Gaming in a research note on Monday, December 18th. Union Gaming Research increased their price target on shares of Penn National Gaming to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Deutsche Bank increased their price target on shares of Penn National Gaming from $29.00 to $32.00 in a research note on Monday, December 18th. Finally, Jefferies Group assumed coverage on shares of Penn National Gaming in a research note on Thursday. They issued a “buy” rating and a $39.00 price target for the company.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC increased its stake in shares of Penn National Gaming by 15.9% during the second quarter. Voya Investment Management LLC now owns 39,066 shares of the company’s stock valued at $836,000 after purchasing an additional 5,354 shares in the last quarter. Strs Ohio bought a new position in shares of Penn National Gaming during the third quarter valued at approximately $3,508,000. State Street Corp increased 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 purchasing an additional 156,455 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Penn National Gaming by 2.6% during the third quarter. Rhumbline Advisers now owns 173,787 shares of the company’s stock valued at $4,065,000 after purchasing an additional 4,400 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Penn National Gaming by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 65,608 shares of the company’s stock valued at $1,404,000 after purchasing an additional 6,774 shares in the last quarter. 97.53% of the stock is owned by institutional investors and hedge funds.

Penn National Gaming (PENN) traded down $0.49 during trading on Friday, hitting $32.26. 2,297,400 shares of the stock were exchanged, compared to its average volume of 965,650. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36. The stock has a market capitalization of $2,985.58, a price-to-earnings ratio of 3.70 and a beta of 1.04. Penn National Gaming has a one year low of $13.00 and a one year high of $32.98.

Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, October 26th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.05. Penn National Gaming had a net margin of 26.16% and a negative return on equity of 20.51%. sell-side analysts anticipate that Penn National Gaming will post 0.71 earnings per share for the current year.

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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.

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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