$1.37 Billion in Sales Expected for Penn National Gaming, Inc (NASDAQ:PENN) This Quarter

Wall Street brokerages expect Penn National Gaming, Inc (NASDAQ:PENN) to report $1.37 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Penn National Gaming’s earnings. The lowest sales estimate is $1.37 billion and the highest is $1.39 billion. Penn National Gaming reported sales of $789.65 million in the same quarter last year, which would suggest a positive year over year growth rate of 73.5%. The business is scheduled to report its next earnings results before the market opens on Thursday, October 31st.

According to Zacks, analysts expect that Penn National Gaming will report full-year sales of $5.34 billion for the current year, with estimates ranging from $5.33 billion to $5.35 billion. For the next year, analysts forecast that the firm will post sales of $5.57 billion, with estimates ranging from $5.52 billion to $5.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. Penn National Gaming had a net margin of 1.90% and a return on equity of 7.61%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 60.0% compared to the same quarter last year.

PENN has been the topic of a number of recent research reports. Union Gaming Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Penn National Gaming in a research note on Sunday, August 4th. Susquehanna Bancshares initiated coverage on shares of Penn National Gaming in a research note on Wednesday, July 24th. They issued a “positive” rating and a $25.00 price objective on the stock. ValuEngine raised shares of Penn National Gaming from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Penn National Gaming from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $27.74.

Shares of Penn National Gaming stock traded up $0.25 during trading hours on Wednesday, reaching $20.68. The company’s stock had a trading volume of 888,603 shares, compared to its average volume of 1,813,804. Penn National Gaming has a one year low of $16.72 and a one year high of $28.50. The company has a market capitalization of $2.37 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.31 and a beta of 1.72. The stock’s fifty day simple moving average is $19.47 and its two-hundred day simple moving average is $19.58. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.71 and a current ratio of 0.71.

In related news, Director Saul Reibstein acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $17.30 per share, for a total transaction of $51,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Handler acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $17.68 per share, with a total value of $530,400.00. Following the acquisition, the director now directly owns 169,870 shares of the company’s stock, valued at approximately $3,003,301.60. The disclosure for this purchase can be found here. 8.53% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in shares of Penn National Gaming by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 43,878 shares of the company’s stock worth $845,000 after purchasing an additional 608 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Penn National Gaming by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 38,113 shares of the company’s stock valued at $734,000 after acquiring an additional 881 shares in the last quarter. ETRADE Capital Management LLC grew its stake in Penn National Gaming by 2.9% during the second quarter. ETRADE Capital Management LLC now owns 35,586 shares of the company’s stock valued at $685,000 after acquiring an additional 1,018 shares in the last quarter. Arizona State Retirement System grew its stake in Penn National Gaming by 1.3% during the second quarter. Arizona State Retirement System now owns 77,366 shares of the company’s stock valued at $1,490,000 after acquiring an additional 1,019 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Penn National Gaming by 17.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,024 shares of the company’s stock valued at $131,000 after acquiring an additional 1,062 shares in the last quarter. Hedge funds and other institutional investors own 98.98% 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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