Analysts predict that Penn National Gaming, Inc. (NASDAQ:PENN) will announce sales of $1.12 billion for the current quarter, according to Zacks. Six analysts have made estimates for Penn National Gaming's earnings. The lowest sales estimate is $1.02 billion and the highest is $1.21 billion. Penn National Gaming posted sales of $1.34 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.4%. The firm is expected to issue its next quarterly earnings results on Thursday, February 4th.
According to Zacks, analysts expect that Penn National Gaming will report full-year sales of $3.68 billion for the current financial year, with estimates ranging from $3.57 billion to $3.76 billion. For the next financial year, analysts anticipate that the company will post sales of $4.92 billion, with estimates ranging from $4.61 billion to $5.21 billion. Zacks' sales averages are an average based on a survey of research firms that cover Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, October 29th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.45. Penn National Gaming had a negative return on equity of 15.63% and a negative net margin of 21.16%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company earned $0.38 earnings per share. Penn National Gaming's quarterly revenue was down 16.6% compared to the same quarter last year.
A number of equities research analysts have commented on the company. Jefferies Financial Group raised their target price on Penn National Gaming from $50.00 to $69.00 in a report on Thursday, October 1st. Barclays lifted their price target on Penn National Gaming from $50.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft lifted their price target on Penn National Gaming from $22.00 to $31.00 and gave the stock a "sell" rating in a research note on Thursday, October 1st. They noted that the move was a valuation call. Macquarie downgraded Penn National Gaming from an "outperform" rating to a "neutral" rating and lifted their price target for the stock from $56.00 to $66.00 in a research note on Thursday, September 24th. Finally, Union Gaming Research lifted their price target on Penn National Gaming from $62.00 to $100.00 in a research note on Thursday, October 1st. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. Penn National Gaming currently has an average rating of "Hold" and a consensus target price of $69.08.
In other Penn National Gaming news, Director Saul Reibstein sold 6,579 shares of Penn National Gaming stock in a transaction dated Tuesday, January 5th. The stock was sold at an average price of $82.06, for a total value of $539,872.74. Following the completion of the sale, the director now owns 34,923 shares in the company, valued at approximately $2,865,781.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carl Sottosanti sold 63,940 shares of Penn National Gaming stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $60.23, for a total value of $3,851,106.20. Following the completion of the sale, the executive vice president now owns 115,256 shares of the company's stock, valued at approximately $6,941,868.88. The disclosure for this sale can be found here. Insiders sold a total of 408,825 shares of company stock valued at $28,604,865 in the last 90 days. 1.81% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of PENN. Lake Street Financial LLC purchased a new stake in shares of Penn National Gaming during the 3rd quarter worth about $264,000. Nachman Norwood & Parrott Inc purchased a new stake in shares of Penn National Gaming during the 3rd quarter worth about $36,000. Diversified Trust Co purchased a new stake in shares of Penn National Gaming during the 3rd quarter worth about $228,000. Great West Life Assurance Co. Can grew its holdings in shares of Penn National Gaming by 11.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 63,625 shares of the company's stock worth $1,942,000 after purchasing an additional 6,665 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Penn National Gaming by 22.3% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 187,101 shares of the company's stock worth $13,602,000 after purchasing an additional 34,157 shares during the period. Institutional investors own 87.81% of the company's stock.
Penn National Gaming stock opened at $106.43 on Friday. Penn National Gaming has a one year low of $3.75 and a one year high of $107.34. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.99 and a current ratio of 1.99. The business has a fifty day moving average of $84.42 and a two-hundred day moving average of $61.79. The company has a market cap of $16.53 billion, a P/E ratio of -14.44 and a beta of 2.59.
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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