Gaming and Leisure Properties (NASDAQ:GLPI) Updates FY 2024 Earnings Guidance

Gaming and Leisure Properties (NASDAQ:GLPI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.740-3.760 for the period, compared to the consensus estimate of 3.760. The company issued revenue guidance of -. Gaming and Leisure Properties also updated its FY24 guidance to $3.74-$3.76 EPS.

Gaming and Leisure Properties Trading Up 1.0 %

GLPI stock traded up $0.47 on Friday, reaching $49.45. The company’s stock had a trading volume of 1,425,795 shares, compared to its average volume of 1,340,047. The firm has a market cap of $13.43 billion, a PE ratio of 18.25, a PEG ratio of 5.71 and a beta of 0.98. The business has a fifty day simple moving average of $45.43 and a two-hundred day simple moving average of $45.21. Gaming and Leisure Properties has a 12-month low of $41.80 and a 12-month high of $49.99. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.47 and a current ratio of 6.47.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). Gaming and Leisure Properties had a return on equity of 16.79% and a net margin of 50.05%. The company had revenue of $380.60 million during the quarter, compared to the consensus estimate of $377.95 million. During the same period in the previous year, the company earned $0.92 earnings per share. Gaming and Leisure Properties’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, research analysts forecast that Gaming and Leisure Properties will post 3.66 EPS for the current year.

Gaming and Leisure Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.15%. The ex-dividend date of this dividend was Friday, June 7th. Gaming and Leisure Properties’s payout ratio is currently 112.18%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Gaming and Leisure Properties from $52.00 to $52.50 and gave the stock a buy rating in a research note on Friday. Morgan Stanley reiterated an overweight rating and issued a $53.00 target price on shares of Gaming and Leisure Properties in a research note on Friday, June 21st. Mizuho dropped their target price on shares of Gaming and Leisure Properties from $47.00 to $46.00 and set a neutral rating on the stock in a research note on Friday, May 10th. StockNews.com upgraded shares of Gaming and Leisure Properties from a hold rating to a buy rating in a research note on Friday, July 19th. Finally, Scotiabank upped their target price on shares of Gaming and Leisure Properties from $48.00 to $50.00 and gave the stock a sector perform rating in a research note on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $51.41.

About Gaming and Leisure Properties

GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties.