Zacks Investment Research Lowers Penn National Gaming Inc. (PENN) to Sell
According to Zacks, “Penn National Gaming, Inc. are a diversified gaming and pari-mutuel wagering company. Their business strategy is focused on exploiting the higher margins and more stable cash flows associated with gaming operations compared to pari-mutuel operations. “
Several other analysts have also commented on PENN. Deutsche Bank AG reaffirmed a buy rating on shares of Penn National Gaming in a report on Sunday, June 26th. Macquarie raised Penn National Gaming from a neutral rating to an outperform rating and set a $20.00 target price on the stock in a report on Thursday, June 30th. Telsey Advisory Group dropped their target price on Penn National Gaming from $25.00 to $21.00 and set an outperform rating on the stock in a report on Friday, July 29th. Finally, Union Gaming Research raised Penn National Gaming from a hold rating to a buy rating in a report on Tuesday, October 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Penn National Gaming has an average rating of Buy and a consensus price target of $18.86.
Shares of Penn National Gaming (NASDAQ:PENN) opened at 14.44 on Friday. Penn National Gaming has a 1-year low of $12.50 and a 1-year high of $19.05. The firm has a 50-day moving average price of $13.80 and a 200-day moving average price of $14.85. The company has a market cap of $1.20 billion, a P/E ratio of 24.52 and a beta of 0.88.
Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, July 28th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.29 by $0.09. The firm had revenue of $769.40 million for the quarter, compared to analyst estimates of $785.06 million. Penn National Gaming had a negative return on equity of 8.21% and a net margin of 1.79%. Penn National Gaming’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. On average, equities analysts expect that Penn National Gaming will post $1.07 EPS for the current year.
Large investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Penn National Gaming by 61.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 100,369 shares of the company’s stock valued at $1,675,000 after buying an additional 38,025 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Penn National Gaming by 4.0% in the first quarter. Teachers Advisors Inc. now owns 121,389 shares of the company’s stock valued at $2,026,000 after buying an additional 4,653 shares in the last quarter. Prudential Financial Inc. bought a new stake in Penn National Gaming during the first quarter valued at approximately $1,468,000. BlackRock Institutional Trust Company N.A. boosted its stake in Penn National Gaming by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,885,411 shares of the company’s stock valued at $31,468,000 after buying an additional 21,890 shares in the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in Penn National Gaming during the first quarter valued at approximately $100,000. 99.52% of the stock is owned by hedge funds and other institutional investors.
About Penn National Gaming
Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. The Company’s segments include the East/Midwest, the West and the Southern Plains segment. East/Midwest segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Lawrenceburg, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway and Plainridge Park Casino.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Penn National Gaming Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming Inc. and related companies with MarketBeat.com's FREE daily email newsletter.