Penn National Gaming (NASDAQ:PENN) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday, December 7th.
Several other equities analysts also recently weighed in on PENN. SunTrust Banks set a $32.00 target price on Penn National Gaming and gave the company a “buy” rating in a research report on Friday, November 2nd. TheStreet downgraded Penn National Gaming from a “b-” rating to a “c” rating in a research report on Monday, December 3rd. ValuEngine upgraded Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Nomura lowered their target price on Penn National Gaming from $38.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Finally, Zacks Investment Research downgraded Penn National Gaming from a “hold” rating to a “strong sell” rating in a research report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $34.11.
Shares of PENN stock traded up $0.20 on Friday, reaching $18.83. The stock had a trading volume of 1,772,448 shares, compared to its average volume of 2,533,295. The company has a market cap of $2.21 billion, a P/E ratio of 2.10, a price-to-earnings-growth ratio of 2.10 and a beta of 1.85. Penn National Gaming 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 63.61, a current ratio of 0.74 and a quick ratio of 0.74.
Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.05). The firm had revenue of $789.70 million during the quarter, compared to analysts’ expectations of $807.79 million. Penn National Gaming had a negative return on equity of 6,177.13% and a negative net margin of 5.41%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. As a group, analysts expect that Penn National Gaming will post 0.89 earnings per share for the current year.
Large investors have recently bought and sold shares of the business. SeaCrest Wealth Management LLC bought a new stake in shares of Penn National Gaming in the second quarter worth about $128,000. Quantbot Technologies LP bought a new stake in shares of Penn National Gaming in the third quarter worth about $129,000. Connable Office Inc. bought a new stake in shares of Penn National Gaming in the second quarter worth about $208,000. Engineers Gate Manager LP bought a new stake in shares of Penn National Gaming in the third quarter worth about $204,000. Finally, PHH Investments Ltd. bought a new stake in shares of Penn National Gaming in the second quarter worth about $252,000. 79.64% of the stock is currently owned by institutional investors and hedge funds.
About Penn National Gaming
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 Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.
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