Recent Analysts’ Ratings Updates for Penn National Gaming (PENN)

Penn National Gaming (NASDAQ: PENN) has recently received a number of price target changes and ratings updates:

  • 6/24/2019 – Penn National Gaming was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 6/14/2019 – Penn National Gaming is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
  • 6/13/2019 – Penn National Gaming was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 6/7/2019 – Penn National Gaming was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 5/10/2019 – Penn National Gaming was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 5/9/2019 – Penn National Gaming was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $27.00 price target on the stock, up previously from $25.00.
  • 5/9/2019 – Penn National Gaming was upgraded by analysts at Bank of America Corp from a “neutral” rating to a “buy” rating.

Penn National Gaming stock opened at $17.92 on Wednesday. Penn National Gaming, Inc has a 1-year low of $17.30 and a 1-year high of $36.90. 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 firm has a market capitalization of $2.16 billion, a PE ratio of 19.27, a PEG ratio of 1.29 and a beta of 1.86. The company has a fifty day simple moving average of $19.88.

Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. Penn National Gaming had a net margin of 2.20% and a return on equity of 13.24%. The business’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS. As a group, analysts anticipate that Penn National Gaming, Inc will post 1.43 earnings per share for the current year.

In related news, insider Jay A. Snowden bought 10,875 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were acquired at an average price 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO William J. Fair bought 11,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $19.54 per share, for a total transaction of $214,940.00. Following 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. Corporate insiders own 8.53% of the company’s stock.

Several institutional investors have recently modified their holdings of PENN. Prudential Financial Inc. grew its position in Penn National Gaming by 15.7% in the 4th quarter. Prudential Financial Inc. now owns 540,635 shares of the company’s stock worth $10,180,000 after purchasing an additional 73,544 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Penn National Gaming by 15,516.0% during the 4th quarter. Hsbc Holdings PLC now owns 1,011,760 shares of the company’s stock worth $19,052,000 after purchasing an additional 1,005,281 shares during the period. Geode Capital Management LLC raised its stake in 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 valued at $24,519,000 after acquiring an additional 313,346 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in Penn National Gaming in the 4th quarter valued at about $477,000. Finally, California Public Employees Retirement System raised its stake in Penn National Gaming by 3.2% in the 4th quarter. California Public Employees Retirement System now owns 165,791 shares of the company’s stock valued at $3,122,000 after acquiring an additional 5,130 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

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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