Equities research analysts expect that Penn National Gaming, Inc (NASDAQ:PENN) will report sales of $1.37 billion for the current quarter, Zacks reports. Five analysts have made estimates for Penn National Gaming’s earnings. The highest sales estimate is $1.39 billion and the lowest is $1.37 billion. Penn National Gaming posted sales of $789.65 million in the same quarter last year, which suggests a positive year over year growth rate of 73.5%. The firm is expected to report its next earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Penn National Gaming will report full year sales of $5.34 billion for the current fiscal year, with estimates ranging from $5.33 billion to $5.35 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.57 billion, with estimates ranging from $5.53 billion to $5.61 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Penn National Gaming.
Penn National Gaming (NASDAQ:PENN) last announced its earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.10. Penn National Gaming had a net margin of 1.90% and a return on equity of 9.76%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company posted $0.57 EPS. The firm’s quarterly revenue was up 60.0% on a year-over-year basis.
PENN traded down $0.26 on Thursday, hitting $16.78. 1,195,332 shares of the company’s stock were exchanged, compared to its average volume of 1,898,355. Penn National Gaming has a fifty-two week low of $16.72 and a fifty-two week high of $35.36. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 5.65. The firm has a 50-day moving average price of $18.76 and a 200-day moving average price of $20.89. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.17 and a beta of 1.73.
In other news, Director David A. Handler purchased 30,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $17.68 per share, with a total value of $530,400.00. Following the transaction, the director now owns 169,870 shares in the company, valued at approximately $3,003,301.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.53% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new stake in Penn National Gaming in the 2nd quarter valued at about $29,000. MUFG Americas Holdings Corp purchased a new stake in Penn National Gaming in the 2nd quarter valued at about $34,000. Quantamental Technologies LLC purchased a new stake in Penn National Gaming in the 2nd quarter valued at about $57,000. Manchester Capital Management LLC purchased a new stake in Penn National Gaming in the 1st quarter valued at about $63,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Penn National Gaming in the 4th quarter valued at about $101,000. 96.62% of the stock is currently owned by hedge funds and other institutional investors.
Penn National Gaming Company Profile
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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