SunTrust Banks Weighs in on Penn National Gaming, Inc’s FY2020 Earnings (NASDAQ:PENN)

Penn National Gaming, Inc (NASDAQ:PENN) – Research analysts at SunTrust Banks dropped their FY2020 earnings estimates for shares of Penn National Gaming in a research note issued to investors on Friday, July 19th. SunTrust Banks analyst B. Jonas now forecasts that the company will earn $1.86 per share for the year, down from their previous estimate of $2.14. SunTrust Banks also issued estimates for Penn National Gaming’s FY2021 earnings at $2.17 EPS.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). Penn National Gaming had a return on equity of 13.24% and a net margin of 2.20%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up 57.2% on a year-over-year basis.



PENN has been the topic of a number of other reports. Wolfe Research began coverage on Red Rock Resorts in a report on Friday, June 14th. They issued a “peer perform” rating on the stock. BidaskClub cut Ames National from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Bank of America began coverage on Coty in a report on Thursday, May 9th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Morgan Stanley set a €9.00 ($10.47) target price on Commerzbank and gave the stock a “neutral” rating in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $32.60.

Shares of NASDAQ PENN opened at $18.26 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 5.65. The firm has a market cap of $2.10 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.77. The stock has a fifty day moving average of $19.02. Penn National Gaming has a 52-week low of $17.30 and a 52-week high of $35.44.

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

Several hedge funds have recently modified their holdings of PENN. Bessemer Group Inc. purchased a new position in shares of Penn National Gaming during the second quarter valued at $29,000. Manchester Capital Management LLC purchased a new position in shares of Penn National Gaming during the first quarter valued at $63,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Penn National Gaming during the fourth quarter valued at $101,000. Advisor Group Inc. grew its holdings in shares of Penn National Gaming by 29.2% during the fourth quarter. Advisor Group Inc. now owns 7,531 shares of the company’s stock valued at $143,000 after buying an additional 1,700 shares in the last quarter. Finally, BB&T Corp purchased a new position in shares of Penn National Gaming during the first quarter valued at $239,000. Institutional investors and hedge funds own 96.56% of the company’s stock.

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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