Wall Street brokerages expect that Penn National Gaming, Inc. (NASDAQ:PENN) will announce $0.36 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Penn National Gaming’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.07. Penn National Gaming posted earnings per share of ($0.80) during the same quarter last year, which would suggest a positive year over year growth rate of 145%. The company is expected to announce its next quarterly earnings results on Thursday, February 4th.
On average, analysts expect that Penn National Gaming will report full-year earnings of ($4.88) per share for the current year, with EPS estimates ranging from ($5.94) to ($4.43). For the next financial year, analysts anticipate that the company will report earnings of $1.63 per share, with EPS estimates ranging from $1.45 to $1.78. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, October 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.45. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Penn National Gaming had a negative net margin of 21.16% and a negative return on equity of 15.63%. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share.
PENN has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of Penn National Gaming from $50.00 to $69.00 in a research report on Thursday, October 1st. JPMorgan Chase & Co. lowered shares of Penn National Gaming from an “overweight” rating to a “sell” rating and increased their price target for the stock from $62.00 to $83.00 in a research report on Wednesday, September 30th. Macquarie lowered shares of Penn National Gaming from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $56.00 to $66.00 in a research report on Thursday, September 24th. Piper Sandler increased their price target on shares of Penn National Gaming from $84.00 to $100.00 in a research report on Thursday, January 7th. Finally, Union Gaming Research increased their price target on shares of Penn National Gaming from $62.00 to $100.00 in a research report on Thursday, October 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.18.
Penn National Gaming stock traded down $1.89 during trading on Wednesday, reaching $104.06. The company had a trading volume of 111,604 shares, compared to its average volume of 5,378,339. Penn National Gaming has a 12-month low of $3.75 and a 12-month high of $106.39. The stock’s 50 day moving average price is $83.13 and its two-hundred day moving average price is $61.05. The firm has a market capitalization of $16.16 billion, a price-to-earnings ratio of -14.12 and a beta of 2.59. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.99 and a current ratio of 1.99.
In other Penn National Gaming news, EVP Carl Sottosanti sold 63,940 shares of the business’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $60.23, for a total value of $3,851,106.20. Following the sale, the executive vice president now directly owns 115,256 shares in the company, valued at $6,941,868.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Christine Labombard sold 6,732 shares of the business’s stock in a transaction on Monday, December 21st. The shares were sold at an average price of $91.00, for a total value of $612,612.00. Following the completion of the sale, the chief accounting officer now owns 12,320 shares in the company, valued at $1,121,120. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,825 shares of company stock worth $28,604,865. Corporate insiders own 1.81% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Penn National Gaming by 15.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,072,067 shares of the company’s stock valued at $368,681,000 after purchasing an additional 1,628,758 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Penn National Gaming in the third quarter valued at approximately $56,572,000. Charles Schwab Investment Management Inc. increased its stake in Penn National Gaming by 27.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,488,128 shares of the company’s stock valued at $108,187,000 after purchasing an additional 316,589 shares during the last quarter. Voloridge Investment Management LLC increased its stake in Penn National Gaming by 46.1% in the third quarter. Voloridge Investment Management LLC now owns 864,898 shares of the company’s stock valued at $62,878,000 after purchasing an additional 273,059 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in Penn National Gaming in the third quarter valued at approximately $17,530,000. Hedge funds and other institutional investors own 87.81% of the company’s stock.
About Penn National Gaming
Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. It also offers live sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia; and operates online casino under the name of iCasino in Pennsylvania.
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