Penn National Gaming, Inc (NASDAQ:PENN) – Equities researchers at Jefferies Financial Group cut their FY2018 EPS estimates for Penn National Gaming in a research report issued on Tuesday, October 30th. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings per share of $2.10 for the year, down from their previous forecast of $2.55. Jefferies Financial Group has a “Buy” rating and a $40.00 price objective on the stock. Jefferies Financial Group also issued estimates for Penn National Gaming’s Q4 2018 earnings at $0.62 EPS.
Several other research firms also recently weighed in on PENN. UBS Group downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research note on Tuesday, September 25th. ValuEngine raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Bank of America lifted their price target on shares of Penn National Gaming from $36.50 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, July 17th. Finally, BidaskClub downgraded shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $36.08.
Penn National Gaming stock opened at $24.28 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 162.63. Penn National Gaming has a fifty-two week low of $21.91 and a fifty-two week high of $36.90. The company has a market cap of $2.15 billion, a PE ratio of 2.70, a P/E/G ratio of 1.13 and a beta of 1.61.
In other Penn National Gaming news, CEO Timothy J. Wilmott acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were bought at an average cost of $30.85 per share, with a total value of $3,085,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Saul Reibstein sold 6,694 shares of Penn National Gaming stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $35.00, for a total transaction of $234,290.00. Following the transaction, the director now directly owns 25,642 shares in the company, valued at $897,470. The disclosure for this sale can be found here. Company insiders own 10.56% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its holdings in Penn National Gaming by 151.8% in the third quarter. US Bancorp DE now owns 30,999 shares of the company’s stock worth $1,020,000 after purchasing an additional 18,687 shares during the last quarter. First Trust Advisors LP grew its holdings in Penn National Gaming by 110.4% in the third quarter. First Trust Advisors LP now owns 189,913 shares of the company’s stock worth $6,252,000 after purchasing an additional 99,670 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in Penn National Gaming by 17.3% in the third quarter. Peregrine Capital Management LLC now owns 285,977 shares of the company’s stock worth $9,414,000 after purchasing an additional 42,192 shares during the last quarter. RWC Asset Management LLP purchased a new position in Penn National Gaming in the third quarter worth $17,271,000. Finally, Copper Rock Capital Partners LLC grew its holdings in Penn National Gaming by 40.4% in the third quarter. Copper Rock Capital Partners LLC now owns 807,430 shares of the company’s stock worth $26,564,000 after purchasing an additional 232,362 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.
Penn National Gaming Company Profile
Penn National Gaming, Inc owns and manages gaming and racing facilities, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.
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