Gaming and Leisure Properties (NASDAQ:GLPI) Updates Q1 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.87 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.78. The company issued revenue guidance of $292.8 million, compared to the consensus revenue estimate of $290.70 million.Gaming and Leisure Properties also updated its FY 2020
After-Hours guidance to 3.49-3.52 EPS.

Shares of NASDAQ GLPI traded up $0.56 during trading on Friday, reaching $50.30. The company had a trading volume of 1,388,407 shares, compared to its average volume of 807,816. Gaming and Leisure Properties has a 12-month low of $35.39 and a 12-month high of $50.99. The stock has a market cap of $10.68 billion, a PE ratio of 27.79, a P/E/G ratio of 1.55 and a beta of 0.57. The business’s 50-day moving average is $46.52 and its 200 day moving average is $41.67. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 2.82.

GLPI has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Gaming and Leisure Properties from $49.00 to $50.00 and gave the stock an overweight rating in a research note on Tuesday, January 21st. Zacks Investment Research cut Gaming and Leisure Properties from a strong-buy rating to a hold rating in a research note on Saturday, January 4th. Bank of America raised Gaming and Leisure Properties from an underperform rating to a buy rating and set a $47.00 target price on the stock in a research note on Monday, January 6th. LADENBURG THALM/SH SH increased their target price on Gaming and Leisure Properties from $47.00 to $51.00 and gave the stock a buy rating in a research note on Wednesday, February 5th. They noted that the move was a valuation call. Finally, BidaskClub raised Gaming and Leisure Properties from a buy rating to a strong-buy rating in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $45.89.

In other Gaming and Leisure Properties news, SVP Brandon John Moore sold 5,024 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $43.08, for a total value of $216,433.92. Following the transaction, the senior vice president now directly owns 134,441 shares of the company’s stock, valued at $5,791,718.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Desiree A. Burke sold 35,777 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $43.09, for a total value of $1,541,630.93. Following the completion of the transaction, the chief accounting officer now directly owns 139,944 shares in the company, valued at $6,030,186.96. The disclosure for this sale can be found here. Insiders have sold 55,801 shares of company stock worth $2,463,065 over the last ninety days. 6.05% of the stock is currently owned by insiders.

Gaming and Leisure Properties Company Profile

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

Read More: Dividend Reinvestment Plan (DRIP)

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