FY2019 Earnings Estimate for Penn National Gaming, Inc Issued By SunTrust Banks (PENN)

Penn National Gaming, Inc (NASDAQ:PENN) – Equities research analysts at SunTrust Banks decreased their FY2019 EPS estimates for Penn National Gaming in a research note issued on Thursday. SunTrust Banks analyst P. Scholes now expects that the company will post earnings per share of $1.82 for the year, down from their prior estimate of $1.88.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($3.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($3.58). Penn National Gaming had a net margin of 15.97% and a negative return on equity of 22.76%. The firm had revenue of $769.00 million for the quarter, compared to analysts’ expectations of $766.82 million. During the same period last year, the firm posted $0.05 EPS. Penn National Gaming’s revenue was up 3.5% on a year-over-year basis.

A number of other research firms also recently issued reports on PENN. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Tuesday, January 9th. Jefferies Group reissued a “buy” rating and set a $35.00 price target on shares of Penn National Gaming in a research report on Tuesday, February 6th. Stifel Nicolaus reissued a “buy” rating and set a $33.00 price target on shares of Penn National Gaming in a research report on Monday, December 18th. Union Gaming Research boosted their price target on Penn National Gaming to $35.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Deutsche Bank boosted their price target on Penn National Gaming from $29.00 to $32.00 in a research report on Monday, December 18th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Penn National Gaming currently has an average rating of “Buy” and a consensus price target of $29.09.

Shares of Penn National Gaming (NASDAQ:PENN) opened at $27.56 on Monday. Penn National Gaming has a 1 year low of $13.73 and a 1 year high of $33.30. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $2,512.44, a PE ratio of 5.23 and a beta of 1.05.

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted 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 worth $157,183,000 after purchasing an additional 405,172 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of Penn National Gaming by 0.6% during the third quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock worth $129,155,000 after purchasing an additional 35,400 shares in the last quarter. State Street Corp lifted 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 worth $42,183,000 after purchasing an additional 156,455 shares in the last quarter. Earnest Partners LLC acquired a new position in shares of Penn National Gaming during the third quarter worth about $36,544,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Penn National Gaming by 113.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,344,104 shares of the company’s stock worth $42,111,000 after purchasing an additional 714,928 shares in the last quarter. Institutional investors own 97.32% of the company’s stock.

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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.

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