Zacks: Analysts Expect Penn National Gaming, Inc (NASDAQ:PENN) to Post $0.37 Earnings Per Share

Analysts forecast that Penn National Gaming, Inc (NASDAQ:PENN) will report earnings per share (EPS) of $0.37 for the current quarter, Zacks reports. Five analysts have issued estimates for Penn National Gaming’s earnings, with estimates ranging from $0.35 to $0.40. Penn National Gaming reported earnings per share of ($0.37) in the same quarter last year, which would suggest a positive year-over-year growth rate of 200%. The company is scheduled to issue its next earnings results on Thursday, February 6th.

On average, analysts expect that Penn National Gaming will report full year earnings of $1.53 per share for the current year, with EPS estimates ranging from $1.52 to $1.56. For the next financial year, analysts forecast that the company will report earnings of $2.13 per share, with EPS estimates ranging from $1.97 to $2.21. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.38 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue was up 71.5% compared to the same quarter last year.

Several research firms have commented on PENN. Jefferies Financial Group cut shares of Penn National Gaming from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $23.00 in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Penn National Gaming from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. They noted that the move was a valuation call. BidaskClub raised shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, October 18th. Finally, ValuEngine raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.31.

NASDAQ:PENN opened at $26.34 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 5.75. The stock’s fifty day moving average is $25.04 and its two-hundred day moving average is $21.01. Penn National Gaming has a 52 week low of $16.72 and a 52 week high of $27.50. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 0.38 and a beta of 1.72.

Several hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its position in Penn National Gaming by 7,627.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,025,319 shares of the company’s stock valued at $96,787,000 after acquiring an additional 4,960,284 shares in the last quarter. Morgan Stanley increased its position in Penn National Gaming by 1,281.7% in the second quarter. Morgan Stanley now owns 1,332,283 shares of the company’s stock worth $25,660,000 after buying an additional 1,235,862 shares in the last quarter. Balyasny Asset Management LLC increased its position in Penn National Gaming by 667.5% in the second quarter. Balyasny Asset Management LLC now owns 1,117,741 shares of the company’s stock worth $21,528,000 after buying an additional 972,104 shares in the last quarter. Millennium Management LLC increased its position in Penn National Gaming by 430.6% in the third quarter. Millennium Management LLC now owns 361,352 shares of the company’s stock worth $6,730,000 after buying an additional 293,252 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Penn National Gaming by 16.9% in the second quarter. Victory Capital Management Inc. now owns 1,902,821 shares of the company’s stock worth $36,648,000 after buying an additional 275,782 shares in the last quarter. Institutional investors and hedge funds own 98.83% of the company’s stock.

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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