A number of other analysts have also issued reports on PENN. Bank of America assumed coverage on shares of Coty in a research note on Thursday, May 9th. They set a neutral rating and a $12.00 price target on the stock. Morgan Stanley set a €9.00 ($10.47) price target on shares of Commerzbank and gave the stock a neutral rating in a research note on Thursday, May 9th. ValuEngine lowered shares of Zions Bancorporation NA from a hold rating to a sell rating in a research note on Wednesday, March 20th. Finally, Wolfe Research assumed coverage on shares of Red Rock Resorts in a research note on Friday, June 14th. They set a peer perform rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $32.60.
Shares of PENN opened at $17.91 on Wednesday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 1.29 and a beta of 1.77. Penn National Gaming has a 12-month low of $17.30 and a 12-month high of $35.70. The firm has a 50-day moving average of $19.08. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.78 and a current ratio of 0.78.
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 Zacks’ consensus estimate of $0.37 by ($0.02). The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. The firm’s revenue for the quarter was up 57.2% on a year-over-year basis. During the same quarter last year, the company earned $0.48 earnings per share. As a group, research analysts anticipate that Penn National Gaming will post 1.43 earnings per share for the current year.
In related news, CFO William J. Fair acquired 11,000 shares of the stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $19.54 per share, with a total value of $214,940.00. Following the completion of the transaction, the chief financial officer now owns 46,998 shares in the company, valued at approximately $918,340.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jay A. Snowden acquired 10,875 shares of the stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $19.51 per share, with a total value of $212,171.25. Following the completion of the transaction, the insider now owns 104,433 shares of the company’s stock, valued at approximately $2,037,487.83. The disclosure for this purchase can be found here. 8.53% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in PENN. Bessemer Group Inc. acquired a new position in shares of Penn National Gaming during the second quarter worth about $29,000. Manchester Capital Management LLC acquired a new position in shares of Penn National Gaming during the first quarter worth about $63,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Penn National Gaming during the fourth quarter worth about $101,000. Advisor Group Inc. grew its position in shares of Penn National Gaming by 29.2% during the fourth quarter. Advisor Group Inc. now owns 7,531 shares of the company’s stock worth $143,000 after buying an additional 1,700 shares in the last quarter. Finally, BB&T Corp acquired a new position in shares of Penn National Gaming during the first quarter worth about $239,000. 96.72% of the stock is owned by institutional investors and hedge funds.
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 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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