Penn National Gaming’s (PENN) Buy Rating Reiterated at Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Penn National Gaming, Inc. (NASDAQ:PENN) in a research report released on Friday. The brokerage currently has a $23.00 price objective on the stock.
PENN has been the subject of a number of other research reports. Deutsche Bank AG reaffirmed a buy rating and issued a $25.00 price objective (up previously from $22.00) on shares of Penn National Gaming in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Penn National Gaming from a hold rating to a buy rating and set a $24.00 target price on the stock in a research report on Wednesday, July 5th. BidaskClub upgraded Penn National Gaming from a buy rating to a strong-buy rating in a research report on Tuesday, June 13th. FBR & Co reiterated an outperform rating and issued a $23.00 target price (up from $20.00) on shares of Penn National Gaming in a research report on Monday, April 10th. Finally, Barclays PLC boosted their target price on Penn National Gaming from $20.00 to $21.00 and gave the stock an overweight rating in a research report on Monday, March 27th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Penn National Gaming has a consensus rating of Buy and an average price target of $20.60.
Shares of Penn National Gaming (NASDAQ PENN) traded up 0.81% during mid-day trading on Friday, reaching $20.42. The company had a trading volume of 183,399 shares. The firm has a 50 day moving average of $20.39 and a 200-day moving average of $16.85. The stock has a market capitalization of $1.85 billion, a P/E ratio of 20.67 and a beta of 1.01. Penn National Gaming has a one year low of $11.93 and a one year high of $22.19.
Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, April 27th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $776.20 million during the quarter, compared to the consensus estimate of $769.81 million. Penn National Gaming had a negative return on equity of 19.08% and a net margin of 2.97%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts forecast that Penn National Gaming will post $0.64 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its stake in shares of Penn National Gaming by 1,461.6% in the second quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after buying an additional 4,677 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Penn National Gaming during the first quarter worth about $128,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Penn National Gaming during the first quarter worth about $134,000. State of Alaska Department of Revenue bought a new stake in shares of Penn National Gaming during the first quarter worth about $168,000. Finally, Van ECK Associates Corp increased its stake in shares of Penn National Gaming by 11.8% in the first quarter. Van ECK Associates Corp now owns 10,543 shares of the company’s stock worth $194,000 after buying an additional 1,114 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.
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 operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
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