Penn National Gaming, Inc (NASDAQ:PENN) has been given an average rating of “Buy” by the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $48.82.
PENN has been the subject of several research reports. Craig Hallum started coverage on Penn National Gaming in a research note on Tuesday, September 1st. They issued a “buy” rating and a $75.00 target price for the company. Rosenblatt Securities started coverage on Penn National Gaming in a research note on Tuesday, September 15th. They issued a “buy” rating for the company. Susquehanna Bancshares lowered Penn National Gaming from a “positive” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Tuesday, June 9th. Barclays lifted their price target on shares of Penn National Gaming from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Deutsche Bank downgraded shares of Penn National Gaming to a “sell” rating and set a $22.00 price objective on the stock. in a report on Sunday, June 21st.
In related news, Director Saul Reibstein sold 5,000 shares of Penn National Gaming stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $50.19, for a total transaction of $250,950.00. Following the sale, the director now directly owns 65,181 shares in the company, valued at $3,271,434.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christine Labombard sold 6,540 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $49.03, for a total value of $320,656.20. Following the completion of the transaction, the chief accounting officer now directly owns 34,998 shares in the company, valued at approximately $1,715,951.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 244,098 shares of company stock worth $9,108,947. 1.81% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in Penn National Gaming by 299.2% in the first quarter. Royal Bank of Canada now owns 142,485 shares of the company’s stock worth $1,803,000 after acquiring an additional 106,795 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Penn National Gaming by 82.1% during the 1st quarter. JPMorgan Chase & Co. now owns 1,442,676 shares of the company’s stock worth $18,250,000 after purchasing an additional 650,627 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Penn National Gaming during the 1st quarter worth approximately $4,736,000. Blair William & Co. IL bought a new stake in shares of Penn National Gaming in the 1st quarter worth approximately $131,000. Finally, Rhumbline Advisers lifted its stake in Penn National Gaming by 4.7% in the first quarter. Rhumbline Advisers now owns 367,042 shares of the company’s stock valued at $4,643,000 after purchasing an additional 16,389 shares during the last quarter. Institutional investors own 87.81% of the company’s stock.
Shares of PENN stock opened at $70.60 on Monday. The firm has a 50 day moving average of $52.46 and a 200-day moving average of $30.65. The company has a market cap of $9.72 billion, a price-to-earnings ratio of -9.58 and a beta of 2.84. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 4.81. Penn National Gaming has a 52 week low of $3.75 and a 52 week high of $76.62.
Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, August 6th. The company reported ($1.69) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.06) by $0.37. Penn National Gaming had a negative net margin of 21.16% and a negative return on equity of 15.63%. The business had revenue of $305.50 million for the quarter, compared to analyst estimates of $242.94 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Penn National Gaming’s revenue was down 76.9% on a year-over-year basis. Analysts anticipate that Penn National Gaming will post -1.39 earnings per share for the current year.
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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