Gaming and Leisure Properties (GLPI) Expected to Announce Earnings of $0.79 Per Share

Brokerages predict that Gaming and Leisure Properties (NASDAQ:GLPI) will post $0.79 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Gaming and Leisure Properties’ earnings. Gaming and Leisure Properties reported earnings of $0.78 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 1.3%. The business is expected to report its next earnings results on Thursday, July 26th.

According to Zacks, analysts expect that Gaming and Leisure Properties will report full-year earnings of $3.14 per share for the current financial year. For the next fiscal year, analysts anticipate that the business will report earnings of $3.22 per share, with EPS estimates ranging from $3.16 to $3.27. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Gaming and Leisure Properties.

Gaming and Leisure Properties (NASDAQ:GLPI) last posted its quarterly earnings data on Wednesday, April 25th. The real estate investment trust reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.31). The firm had revenue of $244.05 million for the quarter, compared to analyst estimates of $249.20 million. Gaming and Leisure Properties had a return on equity of 15.51% and a net margin of 39.42%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share.

Several research analysts have recently weighed in on GLPI shares. Bank of America upped their price objective on Gaming and Leisure Properties from $31.00 to $32.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 17th. Morgan Stanley reduced their price objective on Gaming and Leisure Properties from $40.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. BidaskClub cut Gaming and Leisure Properties from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 28th. Ladenburg Thalmann set a $40.00 price objective on Gaming and Leisure Properties and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Zacks Investment Research raised Gaming and Leisure Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $38.29.

A number of hedge funds and other institutional investors have recently modified their holdings of GLPI. WINTON GROUP Ltd acquired a new stake in shares of Gaming and Leisure Properties in the first quarter valued at approximately $1,421,000. Rational Advisors LLC acquired a new stake in shares of Gaming and Leisure Properties in the first quarter valued at approximately $236,000. Royal Bank of Canada lifted its position in shares of Gaming and Leisure Properties by 84.0% in the first quarter. Royal Bank of Canada now owns 79,759 shares of the real estate investment trust’s stock valued at $2,670,000 after buying an additional 36,418 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Gaming and Leisure Properties by 12.9% in the first quarter. Legal & General Group Plc now owns 668,485 shares of the real estate investment trust’s stock valued at $22,374,000 after buying an additional 76,319 shares during the last quarter. Finally, PVG Asset Management Corp acquired a new stake in shares of Gaming and Leisure Properties in the first quarter valued at approximately $236,000. 88.44% of the stock is owned by hedge funds and other institutional investors.

Shares of Gaming and Leisure Properties traded up $0.19, hitting $34.77, on Wednesday, MarketBeat.com reports. 53,898 shares of the stock were exchanged, compared to its average volume of 1,252,335. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $7.38 billion, a P/E ratio of 11.04 and a beta of 0.80. Gaming and Leisure Properties has a fifty-two week low of $32.51 and a fifty-two week high of $39.32.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, June 14th. This represents a $2.52 annualized dividend and a yield of 7.25%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 80.00%.

About Gaming and Leisure Properties

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.

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Earnings History and Estimates for Gaming and Leisure Properties (NASDAQ:GLPI)

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