Penn National Gaming, Inc. (NASDAQ:PENN) Receives $115.86 Consensus Target Price from Brokerages

Shares of Penn National Gaming, Inc. (NASDAQ:PENN) have received an average recommendation of “Buy” from the nineteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $117.43.

Several research firms have recently commented on PENN. Wells Fargo & Company began coverage on Penn National Gaming in a research report on Tuesday, September 14th. They set an “equal weight” rating and a $82.00 price target for the company. The Goldman Sachs Group lowered their price target on Penn National Gaming from $149.00 to $124.00 and set a “buy” rating for the company in a research report on Wednesday, July 28th. Zacks Investment Research cut Penn National Gaming from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research note on Tuesday, August 10th. Roth Capital initiated coverage on Penn National Gaming in a research note on Tuesday. They issued a “buy” rating and a $107.00 price objective on the stock. Finally, Needham & Company LLC reduced their price objective on Penn National Gaming from $151.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, August 6th.

In related news, CEO Jay A. Snowden sold 148,387 shares of the firm’s stock in a transaction dated Monday, October 4th. The stock was sold at an average price of $77.23, for a total transaction of $11,459,928.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jay A. Snowden sold 14,900 shares of the firm’s stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $80.46, for a total value of $1,198,854.00. Following the transaction, the chief executive officer now directly owns 545,396 shares in the company, valued at approximately $43,882,562.16. The disclosure for this sale can be found here. 1.81% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Montag A & Associates Inc. purchased a new stake in Penn National Gaming in the 1st quarter valued at approximately $26,000. E Fund Management Co. Ltd. acquired a new stake in shares of Penn National Gaming during the 1st quarter valued at approximately $27,000. Danda Trouve Investment Management Inc. acquired a new stake in shares of Penn National Gaming during the 2nd quarter valued at approximately $28,000. CSat Investment Advisory L.P. acquired a new stake in shares of Penn National Gaming during the 1st quarter valued at approximately $34,000. Finally, Capital Analysts LLC lifted its position in shares of Penn National Gaming by 242.1% during the 2nd quarter. Capital Analysts LLC now owns 496 shares of the company’s stock valued at $38,000 after acquiring an additional 351 shares during the period. 83.16% of the stock is currently owned by institutional investors.

Shares of Penn National Gaming stock traded up $1.13 during mid-day trading on Friday, reaching $75.82. 177,550 shares of the stock traded hands, compared to its average volume of 4,745,031. The business has a 50-day moving average of $75.14 and a 200 day moving average of $80.07. Penn National Gaming has a fifty-two week low of $52.09 and a fifty-two week high of $142.00. The stock has a market capitalization of $11.89 billion, a PE ratio of 27.87 and a beta of 2.55. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 2.16.

Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 5th. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.24. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.50 billion. Penn National Gaming had a return on equity of 16.24% and a net margin of 8.89%. The business’s revenue was up 406.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.69) earnings per share. On average, equities research analysts expect that Penn National Gaming will post 3.21 EPS for the current fiscal year.

Penn National Gaming Company Profile

Penn National Gaming, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, and Midwest, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.

Further Reading: ESG Score

Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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