Brokerages expect Penn National Gaming, Inc. (NASDAQ:PENN) to report earnings of $0.45 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Penn National Gaming’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.65. Penn National Gaming posted earnings per share of ($0.80) during the same quarter last year, which would indicate a positive year over year growth rate of 156.3%. The company is scheduled to report its next earnings report on Thursday, February 4th.
On average, analysts expect that Penn National Gaming will report full-year earnings of ($4.83) per share for the current financial year, with EPS estimates ranging from ($5.44) to ($4.43). For the next fiscal year, analysts expect that the company will report earnings of $1.61 per share, with EPS estimates ranging from $1.41 to $1.92. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that follow Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, October 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.45. Penn National Gaming had a negative net margin of 21.16% and a negative return on equity of 15.63%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned $0.38 EPS. The firm’s quarterly revenue was down 16.6% on a year-over-year basis.
PENN has been the topic of several analyst reports. Truist lifted their target price on shares of Penn National Gaming from $50.00 to $62.00 in a report on Tuesday, August 18th. Morgan Stanley upped their price target on shares of Penn National Gaming from $55.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, October 16th. Stifel Nicolaus increased their target price on shares of Penn National Gaming from $47.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Penn National Gaming from $22.00 to $31.00 and gave the stock a “sell” rating in a report on Thursday, October 1st. They noted that the move was a valuation call. Finally, Rosenblatt Securities increased their target price on shares of Penn National Gaming from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $63.75.
In related news, EVP Carl Sottosanti sold 66,281 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $47.09, for a total value of $3,121,172.29. Following the completion of the transaction, the executive vice president now owns 152,829 shares in the company, valued at approximately $7,196,717.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christine Labombard sold 13,400 shares of the stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $66.36, for a total transaction of $889,224.00. Following the completion of the transaction, the chief accounting officer now owns 19,052 shares of the company’s stock, valued at approximately $1,264,290.72. The disclosure for this sale can be found here. Insiders sold a total of 175,161 shares of company stock valued at $9,824,109 in the last quarter. 1.81% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PENN. Vanguard Group Inc. grew its position in Penn National Gaming by 15.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,072,067 shares of the company’s stock valued at $368,681,000 after buying an additional 1,628,758 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Penn National Gaming by 13.2% during the 2nd 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 in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of Penn National Gaming during the 2nd quarter valued at about $19,710,000. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Penn National Gaming by 1,556.2% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 448,410 shares of the company’s stock valued at $13,694,000 after purchasing an additional 421,335 shares in the last quarter. Finally, Jackson Wealth Management LLC bought a new position in shares of Penn National Gaming during the 2nd quarter valued at about $8,857,000. Hedge funds and other institutional investors own 87.81% of the company’s stock.
Shares of Penn National Gaming stock opened at $65.42 on Friday. The company has a market capitalization of $10.15 billion, a P/E ratio of -8.88 and a beta of 2.59. The company’s fifty day moving average is $66.04 and its two-hundred day moving average is $42.87. 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 1 year low of $3.75 and a 1 year high of $76.62.
Penn National Gaming Company Profile
Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. It also offers live sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia; and operates online casino under the name of iCasino in Pennsylvania.
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