Penn National Gaming (NASDAQ:PENN) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Penn National Gaming (NASDAQ:PENN) announced its quarterly earnings data on Thursday. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.34 by $0.10, Briefing.com reports. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.33 billion. Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. The company’s revenue was up 60.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 EPS.

Shares of PENN stock traded down $0.17 during trading hours on Friday, reaching $18.93. The company’s stock had a trading volume of 2,437,993 shares, compared to its average volume of 1,884,064. The company has a market capitalization of $2.22 billion, a PE ratio of 20.35, a P/E/G ratio of 1.39 and a beta of 1.77. Penn National Gaming has a one year low of $17.30 and a one year high of $35.36. The business’s fifty day moving average is $19.00. The company has a debt-to-equity ratio of 5.65, a current ratio of 0.78 and a quick ratio of 0.78.

Several equities analysts have recently commented on PENN shares. Susquehanna Bancshares started coverage on Penn National Gaming in a research report on Wednesday, July 24th. They set a “positive” rating and a $25.00 price objective on the stock. BidaskClub upgraded Penn National Gaming from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 17th. Union Gaming Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a research report on Friday. Bank of America upgraded Penn National Gaming from a “neutral” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Morgan Stanley upgraded Penn National Gaming from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $25.00 to $27.00 in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Penn National Gaming currently has a consensus rating of “Buy” and an average price target of $30.45.

In other Penn National Gaming news, insider Jay A. Snowden acquired 10,875 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $19.51 per share, for a total transaction of $212,171.25. Following the transaction, the insider now owns 104,433 shares in the company, valued at $2,037,487.83. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO William J. Fair acquired 11,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $19.54 per share, for a total transaction of $214,940.00. Following the completion of the transaction, the chief financial officer now owns 46,998 shares in the company, valued at approximately $918,340.92. The disclosure for this purchase can be found here. 8.53% of the stock is currently owned by company 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 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.

Featured Story: Blockchain

Earnings History for Penn National Gaming (NASDAQ:PENN)

Receive News & Ratings for Penn National Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penn National Gaming and related companies with MarketBeat.com's FREE daily email newsletter.