Penn National Gaming (PENN) Releases FY 2018 Earnings Guidance

Penn National Gaming (NASDAQ:PENN) updated its FY 2018 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.90-0.90 for the period, compared to the Thomson Reuters consensus estimate of $1.85. The company issued revenue guidance of $3.582-3.582 billion, compared to the consensus revenue estimate of $3.68 billion.Penn National Gaming also updated its Q4 2018 guidance to $-0.4–0.4 EPS.

A number of equities research analysts have issued reports on the stock. Bank of America increased their price objective on shares of Penn National Gaming from $36.50 to $38.00 and gave the stock a neutral rating in a research note on Tuesday, July 17th. BidaskClub downgraded shares of Penn National Gaming from a buy rating to a hold rating in a research note on Thursday, July 19th. Zacks Investment Research downgraded shares of Penn National Gaming from a buy rating to a hold rating in a research note on Thursday, October 4th. ValuEngine upgraded shares of Penn National Gaming from a hold rating to a buy rating in a research note on Tuesday, October 2nd. Finally, SunTrust Banks assumed coverage on shares of Penn National Gaming in a research note on Tuesday, October 2nd. They set a buy rating and a $39.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Penn National Gaming has an average rating of Hold and a consensus target price of $34.83.

Penn National Gaming stock traded down $0.68 during trading hours on Friday, reaching $23.20. 3,250,818 shares of the stock were exchanged, compared to its average volume of 3,903,483. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.27 and a beta of 1.86. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 162.63. Penn National Gaming has a twelve month low of $21.91 and a twelve month high of $36.90.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). The firm had revenue of $789.70 million for the quarter, compared to analyst estimates of $807.79 million. Penn National Gaming had a return on equity of 268.43% and a net margin of 18.02%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, sell-side analysts expect that Penn National Gaming will post 0.9 earnings per share for the current year.

In other news, Director Saul Reibstein sold 6,694 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $35.00, for a total value of $234,290.00. Following the completion of the transaction, the director now owns 25,642 shares of the company’s stock, valued at $897,470. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Wilmott bought 100,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was bought at an average cost of $30.85 per share, with a total value of $3,085,000.00. The disclosure for this purchase can be found here. 10.56% of the stock is currently owned by corporate insiders.

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 Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.

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

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