Shares of Penn National Gaming, Inc (NASDAQ:PENN) gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $25.55, but opened at $27.11. Penn National Gaming shares last traded at $26.22, with a volume of 1934285 shares.

The company reported ($3.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($3.58). The firm had revenue of $769.00 million for the quarter, compared to analysts’ expectations of $766.82 million. Penn National Gaming had a negative return on equity of 20.51% and a net margin of 26.16%. Penn National Gaming’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS.

Several brokerages recently issued reports on PENN. Deutsche Bank cut their price objective on Penn National Gaming from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley cut their price objective on Penn National Gaming from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday. Jefferies Group restated a “buy” rating and set a $35.00 price objective on shares of Penn National Gaming in a research report on Tuesday. TheStreet upgraded Penn National Gaming from a “c+” rating to a “b+” rating in a research report on Monday, November 13th. Finally, Union Gaming Research lifted their price objective on Penn National Gaming to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Penn National Gaming currently has a consensus rating of “Buy” and an average target price of $29.09.

A number of institutional investors and hedge funds have recently modified their holdings of PENN. LS Investment Advisors LLC acquired a new position in Penn National Gaming in the 4th quarter valued at $127,000. Ameritas Investment Partners Inc. raised its holdings in Penn National Gaming by 6.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock valued at $159,000 after acquiring an additional 482 shares during the last quarter. Royal Bank of Canada raised its holdings in Penn National Gaming by 209.1% in the 2nd quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock valued at $212,000 after acquiring an additional 6,692 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Penn National Gaming in the 4th quarter valued at $212,000. Finally, Meeder Asset Management Inc. raised its holdings in Penn National Gaming by 82.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock valued at $214,000 after acquiring an additional 4,138 shares during the last quarter. Institutional investors own 98.33% of the company’s stock.

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 18.36. The stock has a market cap of $2,510.00, a price-to-earnings ratio of 5.23 and a beta of 1.39.

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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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