According to Zacks, “Penn National Gaming, Inc. are a diversified gaming and pari-mutuel wagering company. Their business strategy is focused on exploiting the higher margins and more stable cash flows associated with gaming operations compared to pari-mutuel operations. “
Several other research firms also recently weighed in on PENN. Macquarie raised shares of Penn National Gaming from a neutral rating to an outperform rating and set a $20.00 price objective for the company in a report on Thursday, June 30th. Deutsche Bank AG reaffirmed a buy rating on shares of Penn National Gaming in a report on Sunday, June 26th. Telsey Advisory Group reduced their price objective on shares of Penn National Gaming from $25.00 to $21.00 and set an outperform rating for the company in a report on Friday, July 29th. Finally, Union Gaming Research raised shares of Penn National Gaming from a hold rating to a buy rating in a report on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $18.86.
Shares of Penn National Gaming (NASDAQ:PENN) traded up 1.05% during midday trading on Friday, hitting $14.50. 700,823 shares of the stock were exchanged. Penn National Gaming has a one year low of $12.50 and a one year high of $19.05. The stock’s 50-day moving average price is $13.82 and its 200 day moving average price is $14.86. The stock has a market cap of $1.21 billion, a P/E ratio of 24.62 and a beta of 0.88.
Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. The business earned $769.40 million during the quarter, compared to the consensus estimate of $785.06 million. Penn National Gaming had a net margin of 1.79% and a negative return on equity of 8.21%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, analysts anticipate that Penn National Gaming will post $1.07 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Springbok Capital Management LLC increased its stake in Penn National Gaming by 194.0% in the first quarter. Springbok Capital Management LLC now owns 35,275 shares of the company’s stock valued at $589,000 after buying an additional 23,275 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Penn National Gaming during the first quarter valued at about $274,000. AMP Capital Investors Ltd increased its stake in Penn National Gaming by 39.8% in the first quarter. AMP Capital Investors Ltd now owns 17,900 shares of the company’s stock valued at $295,000 after buying an additional 5,100 shares during the last quarter. Renaissance Technologies LLC increased its stake in Penn National Gaming by 34.8% in the first quarter. Renaissance Technologies LLC now owns 1,946,100 shares of the company’s stock valued at $32,480,000 after buying an additional 502,000 shares during the last quarter. Finally, Bogle Investment Management L P DE increased its position in shares of Penn National Gaming by 10.2% in the first quarter. Bogle Investment Management L P DE now owns 661,879 shares of the company’s stock worth $11,046,000 after buying an additional 61,311 shares in the last quarter. Hedge funds and other institutional investors own 99.52% of the company’s stock.
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’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.
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