Penn National Gaming, Inc. (PENN) Expected to Announce Earnings of $0.23 Per Share

Equities research analysts expect that Penn National Gaming, Inc. (NASDAQ:PENN) will announce $0.23 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Penn National Gaming’s earnings, with estimates ranging from $0.19 to $0.30. Penn National Gaming reported earnings per share of $0.37 during the same quarter last year, which suggests a negative year over year growth rate of 37.8%. The company is scheduled to report its next earnings results on Thursday, July 27th.

According to Zacks, analysts expect that Penn National Gaming will report full year earnings of $0.64 per share for the current year, with EPS estimates ranging from $0.55 to $0.81. For the next year, analysts expect that the firm will post earnings of $1.16 per share, with EPS estimates ranging from $1.01 to $1.38. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, April 27th. The company reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company had revenue of $776.20 million during the quarter, compared to the consensus estimate of $769.81 million. Penn National Gaming had a negative return on equity of 19.08% and a net margin of 2.97%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on PENN shares. Barclays PLC lifted their price objective on Penn National Gaming from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, May 3rd. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, April 6th. Stifel Nicolaus lifted their price objective on Penn National Gaming from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, May 16th. FBR & Co reaffirmed an “outperform” rating and issued a $23.00 price objective (up from $20.00) on shares of Penn National Gaming in a research note on Monday, April 10th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $25.00 price objective (up from $22.00) on shares of Penn National Gaming in a research note on Thursday, June 22nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.30.

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Penn National Gaming (PENN) opened at 21.15 on Tuesday. Penn National Gaming has a 52-week low of $11.93 and a 52-week high of $22.19. The company has a market capitalization of $1.92 billion, a PE ratio of 21.41 and a beta of 1.01. The company has a 50 day moving average of $20.39 and a 200 day moving average of $16.85.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Penn National Gaming by 138,953.6% in the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock worth $163,992,000 after buying an additional 8,891,641 shares during the period. JPMorgan Chase & Co. raised its position in Penn National Gaming by 1,387.8% in the first quarter. JPMorgan Chase & Co. now owns 1,839,178 shares of the company’s stock worth $33,896,000 after buying an additional 1,715,562 shares during the period. Norges Bank bought a new position in Penn National Gaming during the fourth quarter worth about $18,653,000. Bank of New York Mellon Corp raised its position in Penn National Gaming by 310.2% in the first quarter. Bank of New York Mellon Corp now owns 1,771,232 shares of the company’s stock worth $32,644,000 after buying an additional 1,339,468 shares during the period. Finally, MARSHALL WACE ASIA Ltd bought a new position in Penn National Gaming during the first quarter worth about $22,228,000. Hedge funds and other institutional investors own 94.55% of the company’s stock.

About Penn National Gaming

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

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