Brokerages Expect Penn National Gaming, Inc (NASDAQ:PENN) Will Announce Quarterly Sales of $1.35 Billion

Brokerages expect that Penn National Gaming, Inc (NASDAQ:PENN) will post sales of $1.35 billion for the current quarter, Zacks reports. Five analysts have provided estimates for Penn National Gaming’s earnings, with estimates ranging from $1.34 billion to $1.35 billion. Penn National Gaming posted sales of $1.16 billion during the same quarter last year, which suggests a positive year over year growth rate of 16.4%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 6th.

According to Zacks, analysts expect that Penn National Gaming will report full year sales of $5.31 billion for the current financial year, with estimates ranging from $5.30 billion to $5.31 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $5.53 billion, with estimates ranging from $5.48 billion to $5.57 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Penn National Gaming.

Penn National Gaming (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.03). Penn National Gaming had a return on equity of 5.88% and a net margin of 1.85%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. The business’s revenue was up 71.5% on a year-over-year basis.

Several brokerages recently commented on PENN. Zacks Investment Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Friday, October 18th. BidaskClub upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. ValuEngine lowered Penn National Gaming from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Jefferies Financial Group cut Penn National Gaming from a “buy” rating to a “hold” rating and cut their price target for the stock from $25.00 to $23.00 in a report on Friday, November 1st. Finally, TheStreet upgraded Penn National Gaming from a “c+” rating to a “b-” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $24.70.

Shares of NASDAQ:PENN traded down $0.07 during midday trading on Friday, reaching $23.33. The company’s stock had a trading volume of 151,141 shares, compared to its average volume of 960,298. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.51 and a beta of 1.71. The company has a debt-to-equity ratio of 5.75, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a 50 day moving average price of $21.76 and a two-hundred day moving average price of $19.82. Penn National Gaming has a fifty-two week low of $16.72 and a fifty-two week high of $26.45.

A number of large investors have recently made changes to their positions in the business. Nuveen Asset Management LLC grew its position in Penn National Gaming by 7,627.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 5,025,319 shares of the company’s stock worth $96,787,000 after purchasing an additional 4,960,284 shares during the period. Morgan Stanley increased its holdings in Penn National Gaming by 1,281.7% during the second quarter. Morgan Stanley now owns 1,332,283 shares of the company’s stock valued at $25,660,000 after buying an additional 1,235,862 shares during the period. Balyasny Asset Management LLC increased its holdings in Penn National Gaming by 667.5% during the second quarter. Balyasny Asset Management LLC now owns 1,117,741 shares of the company’s stock valued at $21,528,000 after buying an additional 972,104 shares during the period. Millennium Management LLC raised its stake in Penn National Gaming by 430.6% in the third quarter. Millennium Management LLC now owns 361,352 shares of the company’s stock worth $6,730,000 after buying an additional 293,252 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Penn National Gaming by 16.9% in the second quarter. Victory Capital Management Inc. now owns 1,902,821 shares of the company’s stock worth $36,648,000 after buying an additional 275,782 shares in the last quarter. Institutional investors and hedge funds own 98.86% 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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