Penn National Gaming (NASDAQ:PENN) Releases FY18 Earnings Guidance

Penn National Gaming (NASDAQ:PENN) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of approx $1.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.66. The company issued revenue guidance of approx $3.219 billion, compared to the consensus revenue estimate of $3.24 billion.Penn National Gaming also updated its Q3 guidance to approx $0.44 EPS.

Several analysts have recently weighed in on the company. Bank of America lifted their price objective on Penn National Gaming from $36.50 to $38.00 and gave the stock a neutral rating in a report on Tuesday, July 17th. BidaskClub lowered Penn National Gaming from a buy rating to a hold rating in a report on Thursday, July 19th. TheStreet raised Penn National Gaming from a c+ rating to a b- rating in a report on Monday, May 21st. Nomura lifted their price objective on Penn National Gaming from $30.00 to $35.00 and gave the stock a neutral rating in a report on Thursday, May 24th. Finally, ValuEngine raised Penn National Gaming from a hold rating to a buy rating in a report on Monday, May 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $36.27.

Shares of PENN stock opened at $31.47 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 162.63. The firm has a market capitalization of $2.88 billion, a P/E ratio of 3.50, a P/E/G ratio of 1.76 and a beta of 1.51. Penn National Gaming has a one year low of $20.05 and a one year high of $36.90.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, July 26th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The business had revenue of $826.91 million for the quarter, compared to analyst estimates of $840.15 million. Penn National Gaming had a return on equity of 268.43% and a net margin of 18.02%. Penn National Gaming’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. research analysts expect that Penn National Gaming will post 1.77 earnings per share for the current fiscal year.

In other Penn National Gaming news, Director Peter M. Carlino sold 84,123 shares of Penn National Gaming stock in a transaction on Friday, June 1st. The stock was sold at an average price of $33.84, for a total value of $2,846,722.32. Following the completion of the transaction, the director now owns 381,939 shares in the company, valued at approximately $12,924,815.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Carl Sottosanti sold 16,653 shares of Penn National Gaming stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $34.09, for a total value of $567,700.77. Following the completion of the transaction, the executive vice president now owns 52,489 shares of the company’s stock, valued at approximately $1,789,350.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 319,412 shares of company stock worth $11,217,893. 10.56% of the stock is owned by insiders.

Penn National Gaming Company Profile

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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