Penn National Gaming, Inc. (NASDAQ:PENN)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a research note issued to investors on Friday. They presently have a $23.00 price objective on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 13.55% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating and set a $25.00 target price (up previously from $22.00) on shares of Penn National Gaming in a research note on Thursday, June 22nd. BidaskClub cut Penn National Gaming from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Instinet restated a “neutral” rating and set a $21.00 target price (up previously from $19.00) on shares of Penn National Gaming in a research note on Monday, June 19th. Finally, FBR & Co restated an “outperform” rating and set a $23.00 target price (up previously from $20.00) on shares of Penn National Gaming in a research note on Monday, April 10th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Penn National Gaming has an average rating of “Buy” and a consensus price target of $20.60.
Shares of Penn National Gaming (NASDAQ PENN) opened at 20.255 on Friday. The firm’s 50 day moving average is $20.40 and its 200 day moving average is $16.85. Penn National Gaming has a 52-week low of $11.93 and a 52-week high of $22.19. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 20.501 and a beta of 1.01.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.02. Penn National Gaming had a negative return on equity of 19.08% and a net margin of 2.97%. The company had revenue of $776.20 million for the quarter, compared to analyst estimates of $769.81 million. Penn National Gaming’s revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that Penn National Gaming will post $0.64 earnings per share for the current year.
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A number of large investors have recently modified their holdings of PENN. BlackRock Inc. boosted its stake in shares of Penn National Gaming by 138,953.6% in the first quarter. BlackRock Inc. now owns 8,898,040 shares of the company’s stock worth $163,992,000 after buying an additional 8,891,641 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Penn National Gaming by 1,387.8% in the first quarter. JPMorgan Chase & Co. now owns 1,839,178 shares of the company’s stock worth $33,896,000 after buying an additional 1,715,562 shares in the last quarter. Norges Bank purchased a new stake in shares of Penn National Gaming during the fourth quarter worth $18,653,000. Bank of New York Mellon Corp boosted its stake in shares of Penn National Gaming by 310.2% in the first quarter. Bank of New York Mellon Corp now owns 1,771,232 shares of the company’s stock worth $32,644,000 after buying an additional 1,339,468 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Penn National Gaming during the first quarter worth $22,228,000. Institutional investors own 94.94% of the company’s stock.
About Penn National Gaming
Penn National Gaming, Inc (Penn) is an owner and manager of gaming and racing facilities, and video gaming terminal operations with a focus on slot machine entertainment. The Company operates through three segments: Northeast, South/West and Midwest. The Northeast segment consists of various properties, including Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course and Hollywood Casino Toledo.
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