Penn National Gaming, Inc (PENN) to Post FY2018 Earnings of $1.76 Per Share, SunTrust Banks Forecasts

Penn National Gaming, Inc (NASDAQ:PENN) – Equities researchers at SunTrust Banks increased their FY2018 EPS estimates for Penn National Gaming in a research report issued to clients and investors on Monday. SunTrust Banks analyst P. Scholes now anticipates that the company will post earnings per share of $1.76 for the year, up from their prior estimate of $1.65. SunTrust Banks also issued estimates for Penn National Gaming’s FY2019 earnings at $1.88 EPS.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($3.40) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($3.58). The company had revenue of $769.00 million for the quarter, compared to analysts’ expectations of $766.82 million. Penn National Gaming had a net margin of 26.16% and a negative return on equity of 20.51%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a research report on Tuesday, January 9th. Jefferies Group started coverage on Penn National Gaming in a research report on Thursday, January 18th. They issued a “buy” rating and a $39.00 price objective for the company. Deutsche Bank boosted their price objective on Penn National Gaming from $29.00 to $32.00 in a research report on Monday, December 18th. Barclays boosted their price objective on Penn National Gaming from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, November 20th. Finally, BidaskClub cut Penn National Gaming from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 5th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.73.

Shares of Penn National Gaming (NASDAQ PENN) traded down $1.59 during mid-day trading on Wednesday, reaching $27.86. The company had a trading volume of 1,566,909 shares, compared to its average volume of 1,007,798. The company has a debt-to-equity ratio of 18.36, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $2,795.05, a PE ratio of 3.38 and a beta of 1.05. Penn National Gaming has a 52 week low of $13.73 and a 52 week high of $33.30.

Institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC purchased a new stake in shares of Penn National Gaming in the fourth quarter valued at approximately $127,000. Ameritas Investment Partners Inc. increased its position in shares of Penn National Gaming by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock valued at $159,000 after buying an additional 482 shares in the last quarter. Royal Bank of Canada increased its position in shares of Penn National Gaming by 209.1% in the second quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock valued at $212,000 after buying an additional 6,692 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Penn National Gaming by 82.8% in the third quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock worth $214,000 after acquiring an additional 4,138 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in shares of Penn National Gaming in the fourth quarter worth approximately $231,000. Institutional investors and hedge funds own 98.33% of the company’s stock.

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Penn National Gaming Company Profile

Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.

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