Wall Street analysts expect Penn National Gaming, Inc (NASDAQ:PENN) to announce $1.35 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Penn National Gaming’s earnings. The lowest sales estimate is $1.34 billion and the highest is $1.35 billion. Penn National Gaming posted sales of $1.16 billion in the same quarter last year, which would indicate a positive year over year growth rate of 16.4%. The business is expected to report its next earnings report on Thursday, February 6th.
According to Zacks, analysts expect that Penn National Gaming will report full year sales of $5.31 billion for the current financial year, with estimates ranging from $5.30 billion to $5.31 billion. For the next financial year, analysts forecast that the firm will report sales of $5.52 billion, with estimates ranging from $5.48 billion to $5.57 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.03). Penn National Gaming had a return on equity of 5.88% and a net margin of 1.85%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 71.5% compared to the same quarter last year.
A number of brokerages have recently commented on PENN. BidaskClub raised shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. ValuEngine raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Jefferies Financial Group lowered shares of Penn National Gaming from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $23.00 in a report on Friday, November 1st. TheStreet raised shares of Penn National Gaming from a “c+” rating to a “b-” rating in a report on Tuesday, September 24th. Finally, Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Friday, October 18th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $25.31.
Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. grew its holdings in shares of Penn National Gaming by 110.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,848 shares of the company’s stock valued at $53,000 after purchasing an additional 1,496 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Penn National Gaming during the 3rd quarter valued at $68,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Penn National Gaming during the 3rd quarter valued at $93,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Penn National Gaming by 17.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $131,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Penn National Gaming during the 2nd quarter valued at $201,000. 98.83% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ PENN opened at $26.98 on Wednesday. Penn National Gaming has a 1 year low of $16.72 and a 1 year high of $27.14. The company has a debt-to-equity ratio of 5.75, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $3.05 billion, a PE ratio of 29.01, a P/E/G ratio of 0.38 and a beta of 1.72. The company’s 50 day simple moving average is $24.97 and its two-hundred day simple moving average is $20.97.
About Penn National Gaming
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 four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.
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