Brokerages Set Penn National Gaming, Inc (NASDAQ:PENN) PT at $28.70

Penn National Gaming, Inc (NASDAQ:PENN) has received a consensus recommendation of “Buy” from the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $28.70.

Several equities analysts recently commented on the company. Susquehanna Bancshares assumed coverage on Penn National Gaming in a research report on Wednesday, July 24th. They set a “positive” rating and a $25.00 target price for the company. Morgan Stanley set a $27.00 target price on Penn National Gaming and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wolfe Research assumed coverage on Penn National Gaming in a research report on Friday, June 14th. They set a “peer perform” rating for the company. BidaskClub upgraded Penn National Gaming from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Deutsche Bank restated a “buy” rating and set a $27.00 target price on shares of Penn National Gaming in a research report on Sunday, August 4th.

In other Penn National Gaming news, Director Saul Reibstein purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $17.30 per share, with a total value of $51,900.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director David A. Handler purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $17.68 per share, with a total value of $530,400.00. Following the completion of the acquisition, the director now directly owns 169,870 shares in the company, valued at $3,003,301.60. The disclosure for this purchase can be found here. Company insiders own 8.53% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. acquired a new stake in Penn National Gaming during the 2nd quarter valued at $29,000. MUFG Americas Holdings Corp acquired a new stake in Penn National Gaming during the 2nd quarter valued at $34,000. Quantamental Technologies LLC acquired a new stake in Penn National Gaming during the 2nd quarter valued at $57,000. Manchester Capital Management LLC acquired a new stake in Penn National Gaming during the 1st quarter valued at $63,000. Finally, Pearl River Capital LLC acquired a new stake in Penn National Gaming during the 2nd quarter valued at $130,000. 93.82% of the stock is owned by hedge funds and other institutional investors.

Shares of PENN stock traded down $0.45 during mid-day trading on Friday, reaching $18.02. The stock had a trading volume of 1,057,880 shares, compared to its average volume of 2,127,639. The firm’s 50 day simple moving average is $18.55 and its 200 day simple moving average is $20.70. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 5.89. Penn National Gaming has a one year low of $16.72 and a one year high of $35.36. The firm has a market cap of $2.14 billion, a PE ratio of 19.38, a P/E/G ratio of 1.17 and a beta of 1.73.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.10. Penn National Gaming had a return on equity of 7.61% and a net margin of 1.90%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $0.57 EPS. The company’s quarterly revenue was up 60.0% on a year-over-year basis. Sell-side analysts forecast that Penn National Gaming will post 1.58 earnings per share for the current fiscal year.

About Penn National Gaming

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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