PENN has been the topic of several other reports. Morgan Stanley set a €9.00 ($10.47) target price on Commerzbank and gave the company a “neutral” rating in a research note on Thursday, May 9th. ValuEngine downgraded Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Bank of America began coverage on Coty in a research note on Thursday, May 9th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, Wolfe Research began coverage on Red Rock Resorts in a research note on Friday, June 14th. They set a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Penn National Gaming presently has a consensus rating of “Hold” and a consensus target price of $32.60.
PENN stock traded down $0.22 on Wednesday, reaching $18.21. 8,270 shares of the company traded hands, compared to its average volume of 1,179,249. Penn National Gaming has a one year low of $17.30 and a one year high of $35.70. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $2.16 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.29 and a beta of 1.77. The firm’s fifty day simple moving average is $19.12.
Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Penn National Gaming had a net margin of 2.20% and a return on equity of 13.24%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business earned $0.48 EPS. The firm’s quarterly revenue was up 57.2% on a year-over-year basis. As a group, sell-side analysts forecast that Penn National Gaming will post 1.43 earnings per share for the current fiscal year.
In other Penn National Gaming news, insider Jay A. Snowden bought 10,875 shares of the business’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $19.51 per share, for a total transaction of $212,171.25. Following the purchase, the insider now owns 104,433 shares in the company, valued at approximately $2,037,487.83. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William J. Fair bought 11,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were acquired at an average price of $19.54 per share, for a total transaction of $214,940.00. Following the completion of the purchase, the chief financial officer now owns 46,998 shares in the company, valued at approximately $918,340.92. The disclosure for this purchase can be found here. Company insiders own 8.53% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PENN. Norges Bank purchased a new position in shares of Penn National Gaming in the 4th quarter worth $26,350,000. SG Capital Management LLC purchased a new position in shares of Penn National Gaming in the 1st quarter worth $17,188,000. FMR LLC boosted its stake in shares of Penn National Gaming by 13.0% in the 4th quarter. FMR LLC now owns 7,225,110 shares of the company’s stock worth $136,049,000 after buying an additional 832,714 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Penn National Gaming by 43.5% in the 4th quarter. Northern Trust Corp now owns 1,657,063 shares of the company’s stock worth $31,202,000 after buying an additional 501,964 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Penn National Gaming by 31.7% in the 4th quarter. Geode Capital Management LLC now owns 1,302,174 shares of the company’s stock worth $24,519,000 after buying an additional 313,346 shares during the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.
About Penn National Gaming
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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