Q3 2019 EPS Estimates for Penn National Gaming, Inc (PENN) Boosted by Jefferies Financial Group

Penn National Gaming, Inc (NASDAQ:PENN) – Investment analysts at Jefferies Financial Group increased their Q3 2019 earnings estimates for shares of Penn National Gaming in a research note issued to investors on Thursday, May 2nd. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings per share of $0.46 for the quarter, up from their previous forecast of $0.36. Jefferies Financial Group also issued estimates for Penn National Gaming’s FY2019 earnings at $1.68 EPS.

Other analysts have also recently issued research reports about the stock. Nomura raised shares of Penn National Gaming from a “neutral” rating to a “buy” rating and set a $24.17 price target on the stock in a research report on Thursday, January 17th. BidaskClub raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Saturday, January 12th. Morgan Stanley set a $25.00 price target on shares of Penn National Gaming and gave the stock a “hold” rating in a research report on Thursday, February 14th. Finally, ValuEngine cut shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Penn National Gaming has a consensus rating of “Hold” and an average price target of $32.31.

Shares of PENN opened at $19.37 on Monday. The stock has a market cap of $2.35 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.40 and a beta of 1.85. Penn National Gaming has a 1 year low of $17.30 and a 1 year high of $36.90. The company has a debt-to-equity ratio of 12.90, a quick ratio of 0.92 and a current ratio of 0.92.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Penn National Gaming had a return on equity of 32.22% and a net margin of 2.20%. The firm’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS.

Penn National Gaming announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 9th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Large investors have recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new stake in Penn National Gaming in the fourth quarter valued at approximately $25,000. Oregon Public Employees Retirement Fund acquired a new stake in Penn National Gaming in the fourth quarter valued at approximately $42,000. Advisors Asset Management Inc. raised its holdings in Penn National Gaming by 9.7% in the fourth quarter. Advisors Asset Management Inc. now owns 4,714 shares of the company’s stock valued at $89,000 after acquiring an additional 417 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Penn National Gaming in the fourth quarter valued at approximately $97,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Penn National Gaming in the fourth quarter valued at approximately $101,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Penn National Gaming (NASDAQ:PENN)

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