Penn National Gaming (NASDAQ:PENN) updated its first quarter 2019 earnings guidance on Thursday. The company provided EPS guidance of $0.40-0.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.47. The company issued revenue guidance of $1.301-1.301 billion, compared to the consensus revenue estimate of $1.32 billion.Penn National Gaming also updated its FY 2019 guidance to $1.37-1.37 EPS.
Several analysts have commented on the company. Bank of America restated a hold rating and issued a $31.00 price target on shares of Penn National Gaming in a report on Tuesday, October 16th. BidaskClub upgraded Penn National Gaming from a hold rating to a buy rating in a report on Friday. Nomura upgraded Penn National Gaming from a neutral rating to a buy rating and set a $24.17 price target for the company in a report on Thursday, January 17th. ValuEngine cut Penn National Gaming from a hold rating to a sell rating in a report on Wednesday, October 24th. Finally, SunTrust Banks set a $32.00 price target on Penn National Gaming and gave the company a buy rating in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Penn National Gaming has an average rating of Buy and an average price target of $33.46.
PENN traded down $0.70 during midday trading on Friday, hitting $25.05. The company’s stock had a trading volume of 2,226,400 shares, compared to its average volume of 2,070,944. The company has a debt-to-equity ratio of 63.61, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 2.79, a price-to-earnings-growth ratio of 1.65 and a beta of 1.91. Penn National Gaming has a 52-week low of $17.30 and a 52-week high of $36.90.
Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 7th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.03. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Penn National Gaming had a negative return on equity of 6,177.13% and a negative net margin of 5.41%. The firm’s revenue was up 50.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.57) EPS. Equities research analysts anticipate that Penn National Gaming will post 0.91 earnings per share for the current year.
Penn National Gaming announced that its Board of Directors has initiated a share buyback program on Wednesday, January 9th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 7.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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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