Penn National Gaming (NASDAQ:PENN) had its target price boosted by equities research analysts at Goldman Sachs Group from $60.00 to $66.00 in a note issued to investors on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. Goldman Sachs Group’s price target would indicate a potential downside of 3.27% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. raised their price target on shares of Penn National Gaming from $48.00 to $62.00 in a research note on Wednesday, September 9th. Nomura Instinet raised their price target on shares of Penn National Gaming from $19.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Rosenblatt Securities assumed coverage on shares of Penn National Gaming in a research note on Wednesday, September 9th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Susquehanna Bancshares lowered shares of Penn National Gaming from a “positive” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given 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 price target of $47.89.

PENN stock opened at $68.23 on Monday. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.99 and a quick ratio of 1.99. The firm’s fifty day simple moving average is $50.35 and its 200-day simple moving average is $30.04. Penn National Gaming has a 12 month low of $3.75 and a 12 month high of $69.99. The company has a market capitalization of $9.39 billion, a P/E ratio of -9.26 and a beta of 2.84.

Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, August 6th. The company reported ($1.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.06) by $0.37. Penn National Gaming had a negative net margin of 21.16% and a negative return on equity of 15.63%. The business had revenue of $305.50 million for the quarter, compared to analyst estimates of $242.94 million. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue for the quarter was down 76.9% on a year-over-year basis. As a group, sell-side analysts forecast that Penn National Gaming will post -1.39 earnings per share for the current year.

In related news, EVP Carl Sottosanti sold 132,641 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 92,987 shares of the company’s stock, valued at approximately $2,970,004.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Saul Reibstein sold 33,636 shares of the stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of $35.07, for a total transaction of $1,179,614.52. Following the transaction, the director now directly owns 73,817 shares of the company’s stock, valued at approximately $2,588,762.19. The disclosure for this sale can be found here. Insiders have sold a total of 244,098 shares of company stock valued at $9,108,947 in the last ninety days. 1.81% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in shares of Penn National Gaming by 21.1% during the 2nd quarter. Principal Financial Group Inc. now owns 405,216 shares of the company’s stock worth $12,375,000 after purchasing an additional 70,499 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Penn National Gaming by 275.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 54,827 shares of the company’s stock valued at $1,675,000 after buying an additional 40,227 shares during the period. PNC Financial Services Group Inc. boosted its position in Penn National Gaming by 13.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 37,175 shares of the company’s stock valued at $1,136,000 after buying an additional 4,411 shares during the period. Gleason Group Inc. boosted its position in Penn National Gaming by 47.0% in the 2nd quarter. Gleason Group Inc. now owns 2,989 shares of the company’s stock valued at $91,000 after buying an additional 955 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in Penn National Gaming by 23.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 623,010 shares of the company’s stock valued at $19,026,000 after buying an additional 120,325 shares during the period. 87.81% of the stock is owned by hedge funds and other institutional investors.

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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The Fly

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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