$1.29 Billion in Sales Expected for Penn National Gaming, Inc (PENN) This Quarter

Equities research analysts expect that Penn National Gaming, Inc (NASDAQ:PENN) will report $1.29 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Penn National Gaming’s earnings, with estimates ranging from $1.27 billion to $1.30 billion. Penn National Gaming posted sales of $816.09 million in the same quarter last year, which would indicate a positive year over year growth rate of 58.1%. The business is scheduled to report its next earnings results on Thursday, April 25th.

On average, analysts expect that Penn National Gaming will report full year sales of $5.25 billion for the current year, with estimates ranging from $5.15 billion to $5.37 billion. For the next financial year, analysts expect that the business will post sales of $5.37 billion, with estimates ranging from $5.22 billion to $5.65 billion. Zacks’ sales averages are an 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 results on Thursday, February 7th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.03. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Penn National Gaming had a return on equity of 47.01% and a net margin of 2.61%. The company’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.57) EPS.

PENN has been the subject of several recent research reports. BidaskClub downgraded Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Morgan Stanley set a $25.00 target price on Penn National Gaming and gave the company a “hold” rating in a report on Thursday, February 14th. ValuEngine cut Penn National Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Nomura upgraded Penn National Gaming from a “neutral” rating to a “buy” rating and set a $24.17 target price on the stock in a report on Thursday, January 17th. Finally, Zacks Investment Research upgraded Penn National Gaming from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Penn National Gaming has an average rating of “Hold” and an average target price of $33.69.

A number of institutional investors have recently modified their holdings of PENN. Quantamental Technologies LLC acquired a new position in shares of Penn National Gaming during the fourth quarter worth about $25,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Penn National Gaming during the fourth quarter worth about $42,000. Advisors Asset Management Inc. lifted its stake in shares of Penn National Gaming by 9.7% in the fourth quarter. Advisors Asset Management Inc. now owns 4,714 shares of the company’s stock worth $89,000 after acquiring an additional 417 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Penn National Gaming in the fourth quarter worth about $97,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of Penn National Gaming in the fourth quarter worth about $101,000. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Penn National Gaming stock traded down $0.07 during mid-day trading on Tuesday, hitting $21.22. 1,660,552 shares of the company were exchanged, compared to its average volume of 1,644,306. The company has a debt-to-equity ratio of 12.90, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 1.49 and a beta of 1.85. Penn National Gaming has a 12-month low of $17.30 and a 12-month high of $36.90.

Penn National Gaming declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 9th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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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