Penn National Gaming (NASDAQ:PENN) had its price objective increased by equities research analysts at Morgan Stanley from $55.00 to $63.00 in a research note issued to investors on Friday, Anlyst Ratings reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 11.15% from the company’s current price.

PENN has been the topic of a number of other reports. Barclays upped their price target on Penn National Gaming from $50.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Truist increased their target price on Penn National Gaming from $50.00 to $62.00 in a report on Tuesday, August 18th. Craig Hallum raised their price target on Penn National Gaming from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. SunTrust Banks raised their price target on Penn National Gaming from $22.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Bank of America increased their target price on Penn National Gaming from $59.75 to $85.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $63.75.

NASDAQ:PENN opened at $70.91 on Friday. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.99 and a quick 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’s 50-day moving average is $64.48 and its two-hundred day moving average is $38.00. The stock has a market cap of $11.00 billion, a PE ratio of -9.62 and a beta of 2.84.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.69) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.06) by $0.37. Penn National Gaming had a negative return on equity of 15.63% and a negative net margin of 21.16%. The business had revenue of $305.50 million during the quarter, compared to analysts’ expectations of $242.94 million. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s quarterly revenue was down 76.9% compared to the same quarter last year. On average, equities research analysts anticipate that Penn National Gaming will post -1.39 earnings per share for the current year.

In other news, CAO Christine Labombard sold 6,540 shares of Penn National Gaming stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $49.03, for a total value of $320,656.20. Following the transaction, the chief accounting officer now owns 34,998 shares in the company, valued at $1,715,951.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Saul Reibstein sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $50.19, for a total value of $250,950.00. Following the completion of the sale, the director now directly owns 65,181 shares in the company, valued at $3,271,434.39. The disclosure for this sale can be found here. Insiders sold 111,221 shares of company stock worth $5,973,002 in the last quarter. 1.81% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of PENN. Bamco Inc. NY lifted its holdings in shares of Penn National Gaming by 13.2% during the second quarter. Bamco Inc. NY now owns 12,142,267 shares of the company’s stock valued at $370,825,000 after purchasing an additional 1,418,799 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Penn National Gaming by 15.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,072,067 shares of the company’s stock valued at $368,681,000 after acquiring an additional 1,628,758 shares during the period. State Street Corp grew its position in shares of Penn National Gaming by 1.8% during the 1st quarter. State Street Corp now owns 3,458,836 shares of the company’s stock valued at $43,754,000 after acquiring an additional 62,171 shares during the period. Eminence Capital LP bought a new stake in shares of Penn National Gaming during the 1st quarter valued at $27,535,000. Finally, Geode Capital Management LLC boosted its holdings in Penn National Gaming by 13.1% in the 1st quarter. Geode Capital Management LLC now owns 1,692,649 shares of the company’s stock worth $21,412,000 after buying an additional 196,141 shares during the period. 87.81% of the stock is currently owned by institutional investors and hedge funds.

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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