Penn National Gaming, Inc (NASDAQ:PENN) – Stock analysts at Jefferies Financial Group raised their Q3 2020 EPS estimates for shares of Penn National Gaming in a report issued on Thursday, October 1st. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings per share of $0.50 for the quarter, up from their previous estimate of $0.11. Jefferies Financial Group also issued estimates for Penn National Gaming’s Q4 2020 earnings at $0.47 EPS, FY2020 earnings at ($0.66) EPS and FY2021 earnings at $1.60 EPS. Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.69) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.06) by $0.37. The company had revenue of $305.50 million during the quarter, compared to analyst estimates of $242.94 million. Penn National Gaming had a negative return on equity of 15.63% and a negative net margin of 21.16%. The firm’s quarterly revenue was down 76.9% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share.
Several other research firms have also issued reports on PENN. Macquarie lowered Penn National Gaming from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $56.00 to $66.00 in a research note on Thursday, September 24th. ValuEngine raised Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Union Gaming Research boosted their price target on Penn National Gaming from $62.00 to $100.00 in a research report on Thursday. Barclays upped their price objective on 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, cut Penn National Gaming from a “positive” rating to a “neutral” rating in a research report on Tuesday, June 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $61.36.
NASDAQ:PENN opened at $72.75 on Monday. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of -9.87 and a beta of 2.84. Penn National Gaming has a 52-week low of $3.75 and a 52-week high of $76.62. The stock has a fifty day moving average of $60.62 and a 200 day moving average of $33.95. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.99 and a current ratio of 1.99.
Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Penn National Gaming by 89.5% during the 2nd quarter. Signaturefd LLC now owns 813 shares of the company’s stock worth $25,000 after buying an additional 384 shares during the period. Stonebridge Capital Advisors LLC purchased a new stake in shares of Penn National Gaming in the 1st quarter valued at approximately $28,000. Private Capital Group LLC increased its position in shares of Penn National Gaming by 132.8% in the 2nd quarter. Private Capital Group LLC now owns 1,257 shares of the company’s stock valued at $38,000 after purchasing an additional 717 shares during the last quarter. Procyon Private Wealth Partners LLC purchased a new stake in shares of Penn National Gaming in the 1st quarter valued at approximately $41,000. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in shares of Penn National Gaming in the 2nd quarter valued at approximately $42,000. 87.81% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Carl Sottosanti sold 132,641 shares of the business’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $31.94, for a total transaction of $4,236,553.54. Following the completion of the sale, the executive vice president now owns 92,987 shares of the company’s stock, valued at $2,970,004.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Saul Reibstein sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,271,434.39. The disclosure for this sale can be found here. Insiders sold 264,098 shares of company stock valued at $10,499,947 in the last ninety days. 1.81% of the stock is owned by corporate insiders.
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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