Analysts Set Penn National Gaming, Inc (PENN) Target Price at $32.03

Shares of Penn National Gaming, Inc (NASDAQ:PENN) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $32.03.

PENN has been the topic of a number of recent research reports. Morgan Stanley raised Penn National Gaming from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $25.00 to $27.00 in a research note on Thursday, May 9th. BidaskClub raised Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Bank of America raised Penn National Gaming from a “neutral” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, ValuEngine cut Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th.

Shares of NASDAQ:PENN opened at $18.99 on Tuesday. Penn National Gaming has a 12-month low of $17.30 and a 12-month high of $36.90. The stock has a market cap of $2.22 billion, a PE ratio of 20.41, a P/E/G ratio of 1.31 and a beta of 1.86. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 5.65.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Penn National Gaming had a net margin of 2.20% and a return on equity of 13.24%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s quarterly revenue was up 57.2% compared to the same quarter last year. As a group, analysts anticipate that Penn National Gaming will post 1.43 EPS for the current year.

In other news, insider Jay A. Snowden bought 10,875 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was bought at an average cost of $19.51 per share, for a total transaction of $212,171.25. Following the completion of the acquisition, the insider now owns 104,433 shares in the company, valued at approximately $2,037,487.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO William J. Fair bought 11,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $19.54 per share, with a total value of $214,940.00. Following the completion of the acquisition, the chief financial officer now owns 46,998 shares of the company’s stock, valued at approximately $918,340.92. The disclosure for this purchase can be found here. Corporate insiders own 10.56% of the company’s stock.

Several institutional investors have recently bought and sold shares of PENN. BlackRock Inc. boosted its holdings in shares of Penn National Gaming by 39.2% during the fourth quarter. BlackRock Inc. now owns 12,472,568 shares of the company’s stock worth $234,858,000 after purchasing an additional 3,515,388 shares during the period. Norges Bank purchased a new stake in shares of Penn National Gaming during the fourth quarter worth about $26,350,000. Channing Capital Management LLC purchased a new stake in shares of Penn National Gaming during the fourth quarter worth about $26,027,000. Hsbc Holdings PLC boosted its holdings in shares of Penn National Gaming by 15,516.0% during the fourth quarter. Hsbc Holdings PLC now owns 1,011,760 shares of the company’s stock worth $19,052,000 after purchasing an additional 1,005,281 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Penn National Gaming by 4,912.5% during the fourth quarter. Jennison Associates LLC now owns 909,575 shares of the company’s stock worth $17,127,000 after purchasing an additional 891,429 shares during the period. Institutional investors own 95.22% 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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