Penn National Gaming (NASDAQ:PENN) PT Raised to $85.00 at Stifel Nicolaus

Penn National Gaming (NASDAQ:PENN) had its price target upped by Stifel Nicolaus from $47.00 to $85.00 in a report released on Thursday, 24/7 WallStreet reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently issued reports on PENN. BidaskClub raised shares of Penn National Gaming from a buy rating to a strong-buy rating in a research report on Saturday, August 15th. Truist upped their price objective on Penn National Gaming from $50.00 to $62.00 in a research note on Tuesday, August 18th. Nomura Instinet increased their price objective on Penn National Gaming from $19.00 to $39.00 and gave the stock a buy rating in a research report on Friday, May 29th. TheStreet raised Penn National Gaming from a d+ rating to a c- rating in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on Penn National Gaming from $48.00 to $62.00 in a report on Wednesday, September 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Penn National Gaming presently has a consensus rating of Buy and a consensus target price of $50.77.

Penn National Gaming stock opened at $70.60 on Thursday. The company has a market capitalization of $9.72 billion, a P/E ratio of -9.58 and a beta of 2.84. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.99 and a current ratio of 1.99. Penn National Gaming has a fifty-two week low of $3.75 and a fifty-two week high of $76.62. The stock has a 50-day simple moving average of $52.46 and a 200-day simple moving average of $30.65.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.69) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.06) by $0.37. The company had revenue of $305.50 million during the quarter, compared to analysts’ expectations of $242.94 million. Penn National Gaming had a negative return on equity of 15.63% and a negative net margin of 21.16%. The firm’s revenue for the quarter was down 76.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. As a group, analysts forecast that Penn National Gaming will post -1.39 earnings per share for the current year.

In other Penn National Gaming news, Director Saul Reibstein sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $50.19, for a total transaction of $250,950.00. Following the sale, the director now directly owns 65,181 shares in the company, valued at $3,271,434.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Carl Sottosanti sold 132,641 shares of the company’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $31.94, for a total value of $4,236,553.54. Following the completion of the sale, the executive vice president now directly owns 92,987 shares in the company, valued at approximately $2,970,004.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 244,098 shares of company stock worth $9,108,947. 1.81% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in Penn National Gaming by 299.2% during the first quarter. Royal Bank of Canada now owns 142,485 shares of the company’s stock worth $1,803,000 after acquiring an additional 106,795 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Penn National Gaming by 82.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,442,676 shares of the company’s stock valued at $18,250,000 after buying an additional 650,627 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Penn National Gaming during the 1st quarter valued at $4,736,000. Blair William & Co. IL purchased a new position in Penn National Gaming during the first quarter worth $131,000. Finally, Rhumbline Advisers raised its holdings in shares of Penn National Gaming by 4.7% in the first quarter. Rhumbline Advisers now owns 367,042 shares of the company’s stock worth $4,643,000 after acquiring an additional 16,389 shares during the last quarter. Institutional investors and hedge funds own 87.81% 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 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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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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