Penn National Gaming, Inc. (NASDAQ:PENN) Receives Average Recommendation of “Buy” from Analysts

Penn National Gaming, Inc. (NASDAQ:PENN) has received a consensus recommendation of “Buy” from the nineteen analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $117.43.

Several research firms recently weighed in on PENN. Wells Fargo & Company began coverage on shares of Penn National Gaming in a research note on Tuesday, September 14th. They set an “equal weight” rating and a $82.00 price objective on the stock. Roth Capital began coverage on shares of Penn National Gaming in a research note on Tuesday. They set a “buy” rating and a $107.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on shares of Penn National Gaming from $149.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, July 28th. Needham & Company LLC decreased their target price on shares of Penn National Gaming from $151.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, August 6th. Finally, Zacks Investment Research cut shares of Penn National Gaming from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Tuesday, August 10th.

In related news, CEO Jay A. Snowden sold 148,387 shares of the firm’s stock in a transaction that occurred on Monday, October 4th. The shares were sold at an average price of $77.23, for a total transaction of $11,459,928.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay A. Snowden sold 14,900 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 545,396 shares of the company’s stock, valued at $43,882,562.16. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PENN. Montag A & Associates Inc. acquired a new stake in Penn National Gaming in the 1st quarter worth $26,000. E Fund Management Co. Ltd. bought a new position in Penn National Gaming during the 1st quarter valued at about $27,000. CSat Investment Advisory L.P. bought a new position in Penn National Gaming during the 1st quarter valued at about $34,000. Danda Trouve Investment Management Inc. bought a new position in Penn National Gaming during the 2nd quarter valued at about $28,000. Finally, Vestor Capital LLC bought a new position in Penn National Gaming during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 83.16% of the company’s stock.

Shares of Penn National Gaming stock traded up $1.13 during trading on Friday, reaching $75.82. The company had a trading volume of 177,550 shares, compared to its average volume of 4,745,031. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 27.87 and a beta of 2.55. Penn National Gaming has a fifty-two week low of $52.09 and a fifty-two week high of $142.00. The firm’s fifty day moving average is $75.14 and its 200-day moving average is $80.07. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.66 and a current ratio of 2.66.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, August 5th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.24. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. Penn National Gaming had a net margin of 8.89% and a return on equity of 16.24%. Penn National Gaming’s quarterly revenue was up 406.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.69) earnings per share. On average, research analysts anticipate that Penn National Gaming will post 3.21 EPS for the current fiscal year.

Penn National Gaming Company Profile

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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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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