Penn National Gaming, Inc. (PENN) Expected to Post Quarterly Sales of $757.41 Million
Brokerages expect Penn National Gaming, Inc. (NASDAQ:PENN) to report $757.41 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Penn National Gaming’s earnings. The lowest sales estimate is $756.52 million and the highest is $759.30 million. Penn National Gaming posted sales of $742.91 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The firm is scheduled to report its next quarterly earnings results on Thursday, February 1st.
On average, analysts expect that Penn National Gaming will report full year sales of $757.41 million for the current fiscal year. For the next financial year, analysts anticipate that the business will report sales of $3.22 billion per share, with estimates ranging from $3.20 billion to $3.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Penn National Gaming.
A number of equities analysts have weighed in on the company. Barclays PLC lifted their price objective on Penn National Gaming from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday. ValuEngine lowered Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub lowered Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Morgan Stanley lifted their price objective on Penn National Gaming from $22.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.55.
In other news, insider Jay A. Snowden sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $25.07, for a total transaction of $2,757,700.00. Following the transaction, the insider now directly owns 46,281 shares in the company, valued at approximately $1,160,264.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jay A. Snowden sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $20.86, for a total value of $1,043,000.00. Following the transaction, the insider now owns 86,281 shares in the company, valued at $1,799,821.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 420,813 shares of company stock worth $9,924,682. 10.17% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. California Public Employees Retirement System boosted its holdings in shares of Penn National Gaming by 14.0% during the 3rd quarter. California Public Employees Retirement System now owns 211,180 shares of the company’s stock worth $4,940,000 after purchasing an additional 25,980 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Penn National Gaming by 51.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 16,720 shares of the company’s stock worth $391,000 after purchasing an additional 5,714 shares during the last quarter. Bamco Inc. NY boosted its holdings in shares of Penn National Gaming by 0.6% during the 3rd quarter. Bamco Inc. NY now owns 5,521,824 shares of the company’s stock worth $129,155,000 after purchasing an additional 35,400 shares during the last quarter. Earnest Partners LLC acquired a new position in shares of Penn National Gaming during the 3rd quarter worth approximately $36,544,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Penn National Gaming during the 3rd quarter worth approximately $4,965,000. Institutional investors and hedge funds own 97.36% of the company’s stock.
Shares of Penn National Gaming (PENN) traded up $0.50 during mid-day trading on Tuesday, reaching $27.68. The company had a trading volume of 1,322,800 shares, compared to its average volume of 1,267,289. The stock has a market cap of $2,475.98, a price-to-earnings ratio of 36.73, a price-to-earnings-growth ratio of 6.90 and a beta of 0.97. The company has a debt-to-equity ratio of 18.36, a current ratio of 0.82 and a quick ratio of 0.82. Penn National Gaming has a one year low of $12.77 and a one year high of $28.02.
Penn National Gaming Company Profile
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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