Penn National Gaming (NASDAQ:PENN) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.
A number of other research analysts have also recently issued reports on the company. TheStreet cut Penn National Gaming from a “b-” rating to a “c” rating in a research note on Monday. Zacks Investment Research cut Penn National Gaming from a “hold” rating to a “strong sell” rating in a research note on Friday, November 30th. Morgan Stanley set a $31.00 price target on Penn National Gaming and gave the stock a “hold” rating in a research note on Monday, November 5th. ValuEngine upgraded Penn National Gaming from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Penn National Gaming from $41.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $34.82.
Shares of NASDAQ:PENN opened at $22.89 on Friday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 2.55, a P/E/G ratio of 2.31 and a beta of 1.85. Penn National Gaming has a 12-month low of $18.76 and a 12-month 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 announced its quarterly earnings data 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 company had revenue of $789.70 million for the quarter, compared to analysts’ expectations of $807.79 million. Penn National Gaming had a negative net margin of 5.41% and a negative return on equity of 6,177.13%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, research analysts anticipate that Penn National Gaming will post 0.96 EPS for the current year.
Several hedge funds have recently bought and sold shares of PENN. Janney Montgomery Scott LLC raised its stake in shares of Penn National Gaming by 9.8% in the second quarter. Janney Montgomery Scott LLC now owns 38,578 shares of the company’s stock worth $1,296,000 after purchasing an additional 3,457 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Penn National Gaming by 13.7% in the second quarter. Aperio Group LLC now owns 15,423 shares of the company’s stock worth $518,000 after acquiring an additional 1,859 shares during the period. Commonwealth Equity Services LLC bought a new stake in shares of Penn National Gaming in the second quarter worth $275,000. Comerica Bank grew its holdings in shares of Penn National Gaming by 32.4% in the second quarter. Comerica Bank now owns 98,199 shares of the company’s stock worth $3,508,000 after acquiring an additional 24,013 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in shares of Penn National Gaming by 30.4% in the second quarter. New York State Teachers Retirement System now owns 87,327 shares of the company’s stock worth $2,933,000 after acquiring an additional 20,339 shares during the period. Hedge funds and other institutional investors own 79.66% of the company’s stock.
Penn National Gaming Company Profile
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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