Brokerages Expect Penn National Gaming, Inc (NASDAQ:PENN) to Post $0.43 Earnings Per Share

Wall Street brokerages forecast that Penn National Gaming, Inc (NASDAQ:PENN) will post $0.43 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Penn National Gaming’s earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.42. Penn National Gaming reported earnings per share of $0.38 during the same quarter last year, which suggests a positive year-over-year growth rate of 13.2%. The company is scheduled to issue its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Penn National Gaming will report full-year earnings of $1.58 per share for the current financial year, with EPS estimates ranging from $1.56 to $1.63. For the next financial year, analysts forecast that the company will report earnings of $2.21 per share, with EPS estimates ranging from $2.13 to $2.27. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that follow Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.10. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.33 billion. Penn National Gaming had a net margin of 1.90% and a return on equity of 9.76%. The company’s quarterly revenue was up 60.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS.

Several research firms have weighed in on PENN. Union Gaming Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Wolfe Research began coverage on shares of Penn National Gaming in a research report on Friday, June 14th. They set a “peer perform” rating on the stock. BidaskClub raised shares of Penn National Gaming from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 17th. Morgan Stanley set a $27.00 target price on shares of Penn National Gaming and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Susquehanna Bancshares began coverage on shares of Penn National Gaming in a research report on Wednesday, July 24th. They set a “positive” rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Penn National Gaming currently has a consensus rating of “Buy” and a consensus price target of $30.02.

In other Penn National Gaming news, Director David A. Handler acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $17.68 per share, for a total transaction of $530,400.00. Following the purchase, the director now owns 169,870 shares in the company, valued at approximately $3,003,301.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.53% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. acquired a new position in shares of Penn National Gaming in the 2nd quarter valued at $29,000. MUFG Americas Holdings Corp purchased a new stake in Penn National Gaming in the 2nd quarter worth $34,000. Quantamental Technologies LLC purchased a new stake in Penn National Gaming in the 2nd quarter worth $57,000. Manchester Capital Management LLC purchased a new stake in shares of Penn National Gaming during the first quarter worth $63,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Penn National Gaming during the fourth quarter worth $101,000. Hedge funds and other institutional investors own 96.62% of the company’s stock.

NASDAQ:PENN traded down $0.19 during trading hours on Tuesday, hitting $18.20. 1,570,300 shares of the company were exchanged, compared to its average volume of 1,902,098. The stock has a market cap of $2.15 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.73. Penn National Gaming has a 52-week low of $17.30 and a 52-week high of $35.36. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50 day moving average is $18.80.

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 four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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Earnings History and Estimates for Penn National Gaming (NASDAQ:PENN)

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