Penn National Gaming, Inc. (NASDAQ:PENN) Receives $67.68 Average PT from Brokerages

Shares of Penn National Gaming, Inc. (NASDAQ:PENNGet Rating) have been assigned a consensus rating of “Buy” from the twenty-two brokerages that are currently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $67.68.

A number of research analysts recently commented on the company. Susquehanna upgraded Penn National Gaming from a “neutral” rating to a “positive” rating and raised their price target for the stock from $34.00 to $65.00 in a research report on Wednesday, February 9th. CBRE Group raised Penn National Gaming from a “hold” rating to a “buy” rating and raised their price objective for the company from $60.00 to $62.00 in a research note on Friday, February 4th. Jefferies Financial Group reduced their price objective on Penn National Gaming from $62.00 to $49.00 in a research note on Friday, January 21st. Credit Suisse Group reduced their price objective on Penn National Gaming from $128.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 1st. Finally, Wells Fargo & Company reduced their price objective on Penn National Gaming from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 13th.

PENN stock opened at $36.57 on Wednesday. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.96 and a quick ratio of 1.96. Penn National Gaming has a fifty-two week low of $35.60 and a fifty-two week high of $93.02. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 14.63 and a beta of 2.40. The business’s fifty day moving average price is $42.11 and its two-hundred day moving average price is $49.75.

Penn National Gaming (NASDAQ:PENNGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.20). Penn National Gaming had a return on equity of 13.17% and a net margin of 7.13%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business posted $0.07 EPS. The firm’s revenue for the quarter was up 53.1% on a year-over-year basis. Research analysts expect that Penn National Gaming will post 1.95 EPS for the current year.

Penn National Gaming announced that its board has authorized a stock buyback program on Thursday, February 3rd that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to repurchase up to 9.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Jane Scaccetti acquired 1,975 shares of the firm’s stock in a transaction dated Thursday, February 17th. The stock was bought at an average cost of $49.70 per share, for a total transaction of $98,157.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.81% of the company’s stock.

A number of large investors have recently bought and sold shares of PENN. Sageworth Trust Co of South Dakota acquired a new stake in Penn National Gaming in the fourth quarter worth $25,000. Moors & Cabot Inc. grew its holdings in Penn National Gaming by 350.9% in the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the company’s stock worth $26,000 after purchasing an additional 19,455 shares during the period. Bessemer Group Inc. acquired a new stake in Penn National Gaming in the fourth quarter worth $26,000. Citizens National Bank Trust Department acquired a new stake in Penn National Gaming in the fourth quarter worth $26,000. Finally, Meeder Asset Management Inc. grew its holdings in Penn National Gaming by 428.8% in the third quarter. Meeder Asset Management Inc. now owns 386 shares of the company’s stock worth $28,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 79.40% of the company’s stock.

Penn National Gaming Company Profile (Get Rating)

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through five segments: Northeast, South, West, Midwest, Interactive. The company offers casino gaming, online gaming, live racing, sports betting, and digital sports content.

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