Jefferies Financial Group Analysts Decrease Earnings Estimates for Penn National Gaming, Inc (PENN)

Penn National Gaming, Inc (NASDAQ:PENN) – Analysts at Jefferies Financial Group dropped their Q3 2018 earnings per share (EPS) estimates for shares of Penn National Gaming in a research note issued to investors on Tuesday, October 30th. Jefferies Financial Group analyst D. Katz now forecasts that the company will post earnings per share of $0.43 for the quarter, down from their previous forecast of $0.54. Jefferies Financial Group currently has a “Buy” rating and a $40.00 price target on the stock. Jefferies Financial Group also issued estimates for Penn National Gaming’s Q1 2019 earnings at $0.39 EPS, Q3 2019 earnings at $0.32 EPS, Q4 2019 earnings at $0.26 EPS, FY2019 earnings at $1.41 EPS and FY2020 earnings at $2.01 EPS.

Several other equities research analysts have also commented on PENN. Bank of America boosted their price target on shares of Penn National Gaming from $36.50 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, July 17th. BidaskClub downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. UBS Group downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. ValuEngine downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Penn National Gaming currently has an average rating of “Hold” and a consensus price target of $36.08.

NASDAQ:PENN opened at $24.28 on Wednesday. Penn National Gaming has a one year low of $21.91 and a one year high of $36.90. The company has a debt-to-equity ratio of 162.63, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $2.16 billion, a PE ratio of 2.70, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Penn National Gaming by 1.4% in the 2nd quarter. BlackRock Inc. now owns 8,962,701 shares of the company’s stock valued at $301,057,000 after acquiring an additional 121,216 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Penn National Gaming by 47.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,547,091 shares of the company’s stock valued at $85,557,000 after acquiring an additional 823,049 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Penn National Gaming by 10.5% in the 2nd quarter. Northern Trust Corp now owns 1,104,634 shares of the company’s stock valued at $37,104,000 after acquiring an additional 104,956 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Penn National Gaming by 12,755.2% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,103,877 shares of the company’s stock valued at $37,079,000 after acquiring an additional 1,095,290 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in shares of Penn National Gaming by 30.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 861,476 shares of the company’s stock valued at $28,936,000 after acquiring an additional 201,348 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors.

In related news, CEO Timothy J. Wilmott bought 100,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were bought at an average price of $30.85 per share, with a total value of $3,085,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Saul Reibstein sold 6,694 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $35.00, for a total transaction of $234,290.00. Following the sale, the director now directly owns 25,642 shares in the company, valued at approximately $897,470. The disclosure for this sale can be found here. 10.56% of the stock is owned by insiders.

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 Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.

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

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