BidaskClub upgraded shares of Penn National Gaming (NASDAQ:PENN) from a strong sell rating to a sell rating in a research report sent to investors on Friday morning.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Penn National Gaming from a buy rating to a hold rating in a research report on Tuesday, August 28th. TheStreet lowered shares of Penn National Gaming from a b- rating to a c rating in a research note on Monday, December 3rd. ValuEngine lowered shares of Penn National Gaming from a hold rating to a sell rating in a research note on Wednesday, October 24th. SunTrust Banks set a $32.00 price target on shares of Penn National Gaming and gave the stock a buy rating in a research note on Friday, November 2nd. Finally, Morgan Stanley set a $31.00 price target on shares of Penn National Gaming and gave the stock a hold rating in a research note on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $34.82.
Shares of NASDAQ PENN traded down $0.31 during trading on Friday, reaching $22.58. 2,885,775 shares of the stock were exchanged, compared to its average volume of 2,019,376. Penn National Gaming has a twelve month low of $18.76 and a twelve month high of $36.90. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 63.61. The stock has a market cap of $2.72 billion, a P/E ratio of 2.51, a PEG ratio of 2.56 and a beta of 1.85.
Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, November 1st. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). Penn National Gaming had a negative return on equity of 6,177.13% and a negative net margin of 5.41%. The firm had revenue of $789.70 million for the quarter, compared to analyst estimates of $807.79 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts expect that Penn National Gaming will post 0.89 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Natixis bought a new stake in shares of Penn National Gaming in the second quarter worth $6,307,000. US Bancorp DE increased its stake in Penn National Gaming by 61,460.0% during the second quarter. US Bancorp DE now owns 12,312 shares of the company’s stock valued at $413,000 after purchasing an additional 12,292 shares during the last quarter. Systematic Financial Management LP bought a new stake in Penn National Gaming during the second quarter valued at $1,003,000. Cowen Inc. increased its stake in Penn National Gaming by 2.8% during the second quarter. Cowen Inc. now owns 107,588 shares of the company’s stock valued at $3,614,000 after purchasing an additional 2,911 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in Penn National Gaming during the second quarter valued at $8,296,000. Institutional investors and hedge funds own 79.66% of the company’s stock.
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 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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