$0.21 Earnings Per Share Expected for Penn National Gaming, Inc. (PENN) This Quarter
Equities research analysts predict that Penn National Gaming, Inc. (NASDAQ:PENN) will post earnings of $0.21 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Penn National Gaming’s earnings, with estimates ranging from $0.20 to $0.21. Penn National Gaming posted earnings of $0.51 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 58.8%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Penn National Gaming will report full year earnings of $0.61 per share for the current year, with EPS estimates ranging from $0.60 to $0.62. For the next financial year, analysts forecast that the company will report earnings of $1.25 per share, with EPS estimates ranging from $0.96 to $1.78. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.07). Penn National Gaming had a negative return on equity of 16.72% and a net margin of 2.39%. The business had revenue of $796.50 million during the quarter, compared to analysts’ expectations of $788.65 million. During the same quarter in the previous year, the company posted $0.37 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis.
A number of analysts have recently commented on PENN shares. Stifel Nicolaus reissued a “buy” rating and set a $23.00 target price on shares of Penn National Gaming in a research note on Friday, July 14th. Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Wednesday, July 5th. Deutsche Bank AG reissued a “buy” rating and set a $25.00 target price (up previously from $22.00) on shares of Penn National Gaming in a research note on Thursday, June 22nd. BidaskClub cut shares of Penn National Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, ValuEngine cut shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.00.
Shares of Penn National Gaming (NASDAQ:PENN) traded down 1.01% during midday trading on Thursday, reaching $22.56. The company’s stock had a trading volume of 1,144,423 shares. Penn National Gaming has a 12-month low of $11.93 and a 12-month high of $23.08. The stock has a 50-day moving average of $21.46 and a 200 day moving average of $19.78. The firm has a market capitalization of $2.05 billion, a P/E ratio of 28.34 and a beta of 0.99.
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In other news, insider Jay A. Snowden sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $20.86, for a total value of $1,043,000.00. Following the transaction, the insider now directly owns 86,281 shares in the company, valued at approximately $1,799,821.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Wilmott sold 5,400 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $23.02, for a total transaction of $124,308.00. Following the completion of the transaction, the chief executive officer now owns 460,600 shares in the company, valued at $10,603,012. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,300 shares of company stock worth $1,720,106. Company insiders own 11.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in shares of Penn National Gaming by 1,461.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 4,997 shares of the company’s stock worth $107,000 after acquiring an additional 4,677 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Penn National Gaming during the 1st quarter worth approximately $128,000. Oppenheimer Asset Management Inc. purchased a new stake in Penn National Gaming during the 1st quarter worth approximately $134,000. Van ECK Associates Corp increased its stake in Penn National Gaming by 11.8% during the 1st quarter. Van ECK Associates Corp now owns 10,543 shares of the company’s stock worth $194,000 after buying an additional 1,114 shares during the period. Finally, Amalgamated Bank purchased a new stake in Penn National Gaming during the 1st quarter worth approximately $195,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.
About Penn National Gaming
Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
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