$0.36 Earnings Per Share Expected for Penn National Gaming, Inc (NASDAQ:PENN) This Quarter

Wall Street brokerages expect Penn National Gaming, Inc (NASDAQ:PENN) to report earnings of $0.36 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Penn National Gaming’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.37. Penn National Gaming posted earnings of ($0.37) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 197.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 6th.

On average, analysts expect that Penn National Gaming will report full-year earnings of $1.52 per share for the current financial year, with EPS estimates ranging from $1.50 to $1.53. For the next financial year, analysts forecast that the company will report earnings of $2.14 per share, with EPS estimates ranging from $1.97 to $2.25. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.03). Penn National Gaming had a net margin of 1.85% and a return on equity of 5.88%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 71.5% on a year-over-year basis.

PENN has been the subject of a number of recent analyst reports. ValuEngine downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a report on Friday, November 8th. TheStreet upgraded shares of Penn National Gaming from a “c+” rating to a “b-” rating in a report on Tuesday, September 24th. Jefferies Financial Group downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $23.00 in a research report on Friday, November 1st. BidaskClub upgraded shares of Penn National Gaming from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $24.70.

Shares of PENN traded down $0.07 during mid-day trading on Friday, hitting $23.33. 151,141 shares of the company’s stock traded hands, compared to its average volume of 960,298. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 5.75. Penn National Gaming has a 1 year low of $16.72 and a 1 year high of $26.45. The firm has a market capitalization of $2.71 billion, a P/E ratio of 25.01, a PEG ratio of 1.51 and a beta of 1.71. The business’s 50-day moving average price is $21.76 and its 200-day moving average price is $19.82.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC grew its stake in Penn National Gaming by 7,627.1% in the second quarter. Nuveen Asset Management LLC now owns 5,025,319 shares of the company’s stock worth $96,787,000 after purchasing an additional 4,960,284 shares during the period. Morgan Stanley raised its holdings in Penn National Gaming by 1,281.7% in the second quarter. Morgan Stanley now owns 1,332,283 shares of the company’s stock worth $25,660,000 after purchasing an additional 1,235,862 shares in the last quarter. Balyasny Asset Management LLC lifted its position in Penn National Gaming by 667.5% during the second quarter. Balyasny Asset Management LLC now owns 1,117,741 shares of the company’s stock valued at $21,528,000 after buying an additional 972,104 shares during the period. Millennium Management LLC lifted its position in Penn National Gaming by 430.6% during the third quarter. Millennium Management LLC now owns 361,352 shares of the company’s stock valued at $6,730,000 after buying an additional 293,252 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Penn National Gaming by 16.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,902,821 shares of the company’s stock worth $36,648,000 after buying an additional 275,782 shares during the period. Institutional investors own 98.86% of the company’s stock.

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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Earnings History and Estimates for Penn National Gaming (NASDAQ:PENN)

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