Zacks Investment Research downgraded shares of Penn National Gaming (NASDAQ:PENN) from a buy rating to a hold rating in a research note released on Wednesday.
According to Zacks, “Penn National Gaming, Inc. owns, operates or has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. They have also recently expanded into social online gaming offerings via Penn Interactive Ventures, LLC division and recent acquisition of Rocket Speed Inc. “
A number of other analysts have also recently commented on the company. Jefferies Group started coverage on Penn National Gaming in a research note on Thursday, January 18th. They issued a buy rating and a $39.00 price target for the company. Deutsche Bank increased their target price on Penn National Gaming from $29.00 to $32.00 in a research note on Monday, December 18th. BidaskClub cut Penn National Gaming from a strong-buy rating to a buy rating in a research note on Friday, January 5th. Barclays increased their target price on Penn National Gaming from $23.00 to $30.00 and gave the stock an overweight rating in a research note on Monday, November 20th. Finally, Stifel Nicolaus reissued a buy rating and set a $33.00 target price on shares of Penn National Gaming in a research note on Monday, December 18th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Penn National Gaming currently has a consensus rating of Buy and an average price target of $30.60.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($3.40) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($3.58). The company had revenue of $769.00 million during the quarter, compared to the consensus estimate of $766.82 million. Penn National Gaming had a net margin of 15.97% and a negative return on equity of 22.76%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. sell-side analysts predict that Penn National Gaming will post 1.48 earnings per share for the current year.
In other Penn National Gaming news, Director Jane Scaccetti bought 2,500 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average cost of $27.51 per share, with a total value of $68,775.00. Following the purchase, the director now owns 14,831 shares in the company, valued at $408,000.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.17% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. LS Investment Advisors LLC acquired a new position in Penn National Gaming during the 4th quarter worth approximately $127,000. Ameritas Investment Partners Inc. boosted its position in Penn National Gaming by 6.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,441 shares of the company’s stock worth $159,000 after acquiring an additional 482 shares during the last quarter. Royal Bank of Canada boosted its position in Penn National Gaming by 209.1% during the 2nd quarter. Royal Bank of Canada now owns 9,892 shares of the company’s stock worth $212,000 after acquiring an additional 6,692 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Penn National Gaming during the 4th quarter worth approximately $212,000. Finally, Meeder Asset Management Inc. boosted its position in Penn National Gaming by 82.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,135 shares of the company’s stock worth $214,000 after acquiring an additional 4,138 shares during the last quarter. 97.32% of the stock is owned by institutional investors and hedge funds.
Penn National Gaming Company Profile
Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
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