Penn National Gaming (PENN) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Penn National Gaming (NASDAQ:PENN) from a hold rating to a sell rating in a research report report published on Saturday.

Other analysts also recently issued research reports about the company. Jefferies Financial Group set a $40.00 target price on Penn National Gaming and gave the stock a buy rating in a research report on Friday, July 27th. ValuEngine upgraded Penn National Gaming from a hold rating to a buy rating in a research report on Tuesday, October 2nd. SunTrust Banks initiated coverage on Penn National Gaming in a research report on Tuesday, October 2nd. They issued a buy rating and a $39.00 target price for the company. Zacks Investment Research downgraded Penn National Gaming from a buy rating to a hold rating in a research report on Tuesday, August 28th. Finally, Bank of America reiterated a hold rating and issued a $31.00 price objective on shares of Penn National Gaming in a research report on Tuesday, October 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Penn National Gaming has a consensus rating of Hold and an average price target of $36.08.

NASDAQ:PENN traded down $1.18 during mid-day trading on Friday, reaching $23.43. The stock had a trading volume of 2,913,818 shares, compared to its average volume of 3,613,085. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.14 and a beta of 1.61. Penn National Gaming has a one year low of $23.10 and a one year high of $36.90. The company has a debt-to-equity ratio of 162.63, a current ratio of 0.63 and a quick ratio of 0.63.



Penn National Gaming (NASDAQ:PENN) last released its earnings results on Thursday, July 26th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.08. The company had revenue of $826.91 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, sell-side analysts anticipate that Penn National Gaming will post 2.06 EPS for the current year.

In other Penn National Gaming news, Director Saul Reibstein sold 6,694 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $35.00, for a total value of $234,290.00. Following the completion of the sale, the director now owns 25,642 shares in the company, valued at $897,470. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Wilmott acquired 100,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was bought at an average price of $30.85 per share, with a total value of $3,085,000.00. The disclosure for this purchase can be found here. Insiders own 10.56% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PENN. SeaCrest Wealth Management LLC purchased a new position in shares of Penn National Gaming during the second quarter valued at approximately $128,000. Connable Office Inc. purchased a new position in shares of Penn National Gaming during the second quarter valued at approximately $208,000. PHH Investments Ltd. purchased a new position in shares of Penn National Gaming during the second quarter valued at approximately $252,000. Commonwealth Equity Services LLC purchased a new position in shares of Penn National Gaming during the second quarter valued at approximately $275,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Penn National Gaming by 19.4% during the second quarter. Meeder Asset Management Inc. now owns 10,757 shares of the company’s stock valued at $361,000 after buying an additional 1,745 shares during the period. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

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 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.

Further Reading: Yield Curve

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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