Zacks: Analysts Anticipate Penn National Gaming, Inc. (NASDAQ:PENN) Will Announce Earnings of $0.93 Per Share

Equities research analysts expect Penn National Gaming, Inc. (NASDAQ:PENN) to post earnings per share (EPS) of $0.93 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Penn National Gaming’s earnings. The lowest EPS estimate is $0.67 and the highest is $1.38. Penn National Gaming posted earnings of ($1.69) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 155%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, August 5th.

On average, analysts expect that Penn National Gaming will report full-year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.26 to $3.75. For the next fiscal year, analysts forecast that the firm will post earnings of $2.72 per share, with EPS estimates ranging from $2.02 to $3.29. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, May 6th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.30 by $0.25. Penn National Gaming had a return on equity of 1.27% and a net margin of 0.81%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned ($5.26) EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year.

PENN has been the topic of several research analyst reports. Redburn Partners initiated coverage on Penn National Gaming in a research report on Tuesday, April 27th. They set a “buy” rating on the stock. Needham & Company LLC assumed coverage on Penn National Gaming in a research report on Monday, April 26th. They set a “buy” rating and a $151.00 target price on the stock. The Goldman Sachs Group increased their price target on Penn National Gaming from $153.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, April 21st. They noted that the move was a valuation call. TheStreet upgraded Penn National Gaming from a “d+” rating to a “c” rating in a report on Monday, May 10th. Finally, Zacks Investment Research lowered Penn National Gaming from a “hold” rating to a “strong sell” rating and set a $86.00 price target on the stock. in a report on Thursday, April 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $108.17.

Shares of Penn National Gaming stock traded down $1.17 on Thursday, hitting $72.02. 153,589 shares of the company’s stock traded hands, compared to its average volume of 4,698,528. Penn National Gaming has a one year low of $31.86 and a one year high of $142.00. The company has a debt-to-equity ratio of 2.33, a current ratio of 2.48 and a quick ratio of 2.48. The firm’s fifty day moving average price is $77.02. The company has a market cap of $11.26 billion, a P/E ratio of -514.39 and a beta of 2.56.

Large investors have recently added to or reduced their stakes in the business. Montag A & Associates Inc. purchased a new stake in Penn National Gaming in the first quarter worth $26,000. E Fund Management Co. Ltd. purchased a new position in shares of Penn National Gaming in the first quarter valued at $27,000. Wealthcare Advisory Partners LLC purchased a new position in shares of Penn National Gaming in the first quarter valued at $28,000. Norway Savings Bank grew its position in shares of Penn National Gaming by 50.0% in the first quarter. Norway Savings Bank now owns 300 shares of the company’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Finally, Optimum Investment Advisors purchased a new position in shares of Penn National Gaming in the first quarter valued at $33,000. 85.89% of the stock is owned by institutional investors and hedge funds.

About Penn National Gaming

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through four segments: Northeast, South, West, and Midwest. The company operates live sports betting properties in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, Nevada, Pennsylvania, and West Virginia; Barstool Sports, an online sports betting app in Pennsylvania; and online social casino, bingo, and online casinos under the iGaming name in Pennsylvania and Michigan.

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