$1.60 Billion in Sales Expected for Penn National Gaming, Inc. (NASDAQ:PENN) This Quarter

Wall Street analysts forecast that Penn National Gaming, Inc. (NASDAQ:PENNGet Rating) will post sales of $1.60 billion for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Penn National Gaming’s earnings. The lowest sales estimate is $1.57 billion and the highest is $1.62 billion. Penn National Gaming posted sales of $1.55 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Penn National Gaming will report full-year sales of $6.37 billion for the current financial year, with estimates ranging from $6.31 billion to $6.40 billion. For the next fiscal year, analysts anticipate that the business will report sales of $6.56 billion, with estimates ranging from $6.37 billion to $6.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Penn National Gaming.

Penn National Gaming (NASDAQ:PENNGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.16). Penn National Gaming had a return on equity of 10.91% and a net margin of 6.16%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis.

Several equities analysts have weighed in on PENN shares. Wells Fargo & Company reduced their price objective on Penn National Gaming from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, April 13th. StockNews.com initiated coverage on Penn National Gaming in a report on Thursday, March 31st. They issued a “hold” rating for the company. Susquehanna Bancshares upgraded Penn National Gaming from a “neutral” rating to a “positive” rating and increased their price objective for the company from $34.00 to $65.00 in a research report on Wednesday, February 9th. Susquehanna upgraded Penn National Gaming from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $34.00 to $65.00 in a research report on Wednesday, February 9th. Finally, Jefferies Financial Group upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, May 18th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $67.68.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Penn National Gaming in the 1st quarter valued at about $499,000. Kestra Private Wealth Services LLC increased its stake in Penn National Gaming by 1.3% in the first quarter. Kestra Private Wealth Services LLC now owns 36,625 shares of the company’s stock valued at $1,554,000 after purchasing an additional 457 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in Penn National Gaming during the first quarter worth approximately $407,000. The Manufacturers Life Insurance Company lifted its position in shares of Penn National Gaming by 1.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 116,332 shares of the company’s stock worth $4,935,000 after buying an additional 1,139 shares during the last quarter. Finally, Toroso Investments LLC boosted its holdings in shares of Penn National Gaming by 13.0% in the 1st quarter. Toroso Investments LLC now owns 6,871 shares of the company’s stock valued at $291,000 after buying an additional 793 shares in the last quarter. 81.28% of the stock is currently owned by institutional investors.

Penn National Gaming stock opened at $34.28 on Thursday. The firm has a 50 day moving average price of $35.28 and a 200-day moving average price of $43.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.22. Penn National Gaming has a twelve month low of $27.78 and a twelve month high of $86.40. The company has a market capitalization of $5.72 billion, a P/E ratio of 15.30 and a beta of 2.36.

Penn National Gaming Company Profile (Get Rating)

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through five segments: Northeast, South, West, Midwest, Interactive. The company offers casino gaming, online gaming, live racing, sports betting, and digital sports content.

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Earnings History and Estimates for Penn National Gaming (NASDAQ:PENN)

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