Gaming and Leisure Properties Inc (NASDAQ:GLPI) Expected to Post Quarterly Sales of $288.12 Million

Analysts predict that Gaming and Leisure Properties Inc (NASDAQ:GLPI) will post $288.12 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Gaming and Leisure Properties’ earnings, with estimates ranging from $287.98 million to $288.60 million. Gaming and Leisure Properties posted sales of $254.14 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.4%. The business is scheduled to issue its next earnings results on Thursday, November 7th.

On average, analysts expect that Gaming and Leisure Properties will report full year sales of $1.15 billion for the current financial year. For the next fiscal year, analysts forecast that the company will report sales of $1.16 billion, with estimates ranging from $1.15 billion to $1.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPI) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.33). The firm had revenue of $289.01 million during the quarter, compared to analyst estimates of $289.64 million. Gaming and Leisure Properties had a net margin of 29.69% and a return on equity of 14.79%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.43 earnings per share.

Several research firms have weighed in on GLPI. BidaskClub raised shares of Gaming and Leisure Properties from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 31st. Scotiabank began coverage on shares of Gaming and Leisure Properties in a report on Monday, July 29th. They issued an “outperform” rating on the stock. Nomura set a $42.00 price target on shares of Gaming and Leisure Properties and gave the company a “hold” rating in a report on Wednesday, August 7th. Deutsche Bank reissued a “buy” rating and issued a $47.00 price target on shares of Gaming and Leisure Properties in a report on Sunday, May 12th. Finally, Zacks Investment Research cut shares of Gaming and Leisure Properties from a “hold” rating to a “sell” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Gaming and Leisure Properties has an average rating of “Hold” and an average target price of $43.22.

Gaming and Leisure Properties stock opened at $37.06 on Friday. The stock has a market cap of $8.05 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.25 and a beta of 0.53. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 2.72. Gaming and Leisure Properties has a twelve month low of $31.19 and a twelve month high of $40.82. The company’s 50-day moving average price is $38.37 and its two-hundred day moving average price is $38.60.

Several institutional investors and hedge funds have recently made changes to their positions in GLPI. Nuveen Asset Management LLC increased its holdings in shares of Gaming and Leisure Properties by 2,315.0% during the second quarter. Nuveen Asset Management LLC now owns 2,718,537 shares of the real estate investment trust’s stock worth $105,968,000 after purchasing an additional 2,605,967 shares during the period. LSV Asset Management increased its holdings in shares of Gaming and Leisure Properties by 200.9% during the first quarter. LSV Asset Management now owns 3,077,132 shares of the real estate investment trust’s stock worth $118,684,000 after purchasing an additional 2,054,581 shares during the period. Cohen & Steers Inc. increased its holdings in shares of Gaming and Leisure Properties by 25.8% during the second quarter. Cohen & Steers Inc. now owns 4,367,732 shares of the real estate investment trust’s stock worth $170,254,000 after purchasing an additional 896,341 shares during the period. Invesco Ltd. increased its stake in Gaming and Leisure Properties by 195.3% in the second quarter. Invesco Ltd. now owns 1,232,828 shares of the real estate investment trust’s stock valued at $48,056,000 after acquiring an additional 815,302 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC bought a new position in Gaming and Leisure Properties in the second quarter valued at approximately $13,924,000. 89.95% of the stock is currently owned by institutional investors.

About Gaming and Leisure Properties

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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Earnings History and Estimates for Gaming and Leisure Properties (NASDAQ:GLPI)

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