Research Analysts’ Weekly Ratings Changes for Penn National Gaming (PENN)

A number of research firms have changed their ratings and price targets for Penn National Gaming (NASDAQ: PENN):

  • 11/12/2021 – Penn National Gaming was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating. They now have a $31.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 11/8/2021 – Penn National Gaming had its price target lowered by analysts at Morgan Stanley from $85.00 to $69.00. They now have an “equal weight” rating on the stock.
  • 11/5/2021 – Penn National Gaming had its price target lowered by analysts at Credit Suisse Group AG from $136.00 to $128.00. They now have an “outperform” rating on the stock.
  • 11/5/2021 – Penn National Gaming had its price target lowered by analysts at Jefferies Financial Group Inc. from $81.00 to $62.00. They now have a “hold” rating on the stock.
  • 10/27/2021 – Penn National Gaming had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $128.00 to $115.00. They now have a “buy” rating on the stock.
  • 10/20/2021 – Penn National Gaming is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $85.00 price target on the stock.
  • 10/19/2021 – Penn National Gaming is now covered by analysts at Berenberg Bank. They set a “buy” rating and a $95.00 price target on the stock.
  • 10/12/2021 – Penn National Gaming is now covered by analysts at Roth Capital. They set a “buy” rating and a $107.00 price target on the stock.

Shares of NASDAQ PENN traded up $1.38 during mid-day trading on Thursday, hitting $53.19. The company had a trading volume of 3,760,677 shares, compared to its average volume of 5,025,933. The company has a market capitalization of $9.02 billion, a PE ratio of 23.03 and a beta of 2.45. The business’s 50-day simple moving average is $69.08 and its 200 day simple moving average is $73.54. Penn National Gaming, Inc. has a 1-year low of $50.78 and a 1-year high of $142.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 2.82 and a quick ratio of 2.82.

Penn National Gaming (NASDAQ:PENN) last issued its earnings results on Thursday, November 4th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.32). Penn National Gaming had a net margin of 7.22% and a return on equity of 13.64%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the business earned $0.93 EPS. The firm’s revenue was up 33.8% compared to the same quarter last year. On average, analysts expect that Penn National Gaming, Inc. will post 2.71 EPS for the current year.

In related news, CEO Jay A. Snowden sold 14,900 shares of the stock in a transaction on Monday, September 13th. The stock was sold at an average price of $80.46, for a total transaction of $1,198,854.00. Following the completion of the sale, the chief executive officer now directly owns 545,396 shares of the company’s stock, valued at $43,882,562.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jay A. Snowden sold 148,387 shares of Penn National Gaming stock in a transaction dated Monday, October 4th. The shares were sold at an average price of $77.23, for a total transaction of $11,459,928.01. The disclosure for this sale can be found here. 1.81% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its stake in shares of Penn National Gaming by 1,354.6% in the second quarter. BNP Paribas Arbitrage SA now owns 782,191 shares of the company’s stock valued at $59,830,000 after purchasing an additional 728,417 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Penn National Gaming during the 2nd quarter worth approximately $54,685,000. Thrivent Financial for Lutherans grew its holdings in shares of Penn National Gaming by 592.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 706,946 shares of the company’s stock worth $54,074,000 after acquiring an additional 604,863 shares during the period. Goldman Sachs Group Inc. increased its stake in Penn National Gaming by 39.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,424,679 shares of the company’s stock valued at $108,974,000 after purchasing an additional 405,801 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Penn National Gaming by 20.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,387,730 shares of the company’s stock worth $173,016,000 after purchasing an additional 400,613 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Penn National Gaming, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, and Midwest, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.

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