Penn National Gaming, Inc. (PENN) Rating Lowered to Hold at BidaskClub

BidaskClub lowered shares of Penn National Gaming, Inc. (NASDAQ:PENN) from a buy rating to a hold rating in a report released on Wednesday morning.

Other equities analysts have also recently issued reports about the stock. Barclays PLC upped their price target on shares of Penn National Gaming from $20.00 to $21.00 and gave the company an overweight rating in a research report on Monday, March 27th. Deutsche Bank AG restated a buy rating and issued a $25.00 price target (up from $22.00) on shares of Penn National Gaming in a research report on Thursday, June 22nd. Zacks Investment Research cut shares of Penn National Gaming from a buy rating to a hold rating in a research report on Thursday, May 25th. Stifel Nicolaus restated a buy rating and issued a $23.00 price target on shares of Penn National Gaming in a research report on Friday, July 14th. Finally, Instinet restated a neutral rating and issued a $21.00 price target (up from $19.00) on shares of Penn National Gaming in a research report on Monday, June 19th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $20.60.

Shares of Penn National Gaming (PENN) traded down 0.73% during trading on Wednesday, reaching $20.50. 695,016 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $20.98 and its 200-day moving average price is $17.52. The stock has a market cap of $1.86 billion, a PE ratio of 20.75 and a beta of 1.02. Penn National Gaming has a 52-week low of $11.93 and a 52-week high of $22.19.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.02. Penn National Gaming had a net margin of 2.97% and a negative return on equity of 19.08%. The business had revenue of $776.20 million during the quarter, compared to analyst estimates of $769.81 million. The business’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Penn National Gaming will post $0.64 EPS for the current year.

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Several large investors have recently bought and sold shares of PENN. State Street Corp raised its position in shares of Penn National Gaming by 3.8% in the fourth quarter. State Street Corp now owns 1,363,512 shares of the company’s stock valued at $18,800,000 after buying an additional 49,617 shares in the last quarter. Allianz Asset Management AG raised its position in shares of Penn National Gaming by 39.4% in the fourth quarter. Allianz Asset Management AG now owns 54,675 shares of the company’s stock valued at $754,000 after buying an additional 15,451 shares in the last quarter. Norges Bank bought a new position in shares of Penn National Gaming during the fourth quarter valued at about $18,653,000. Teachers Advisors LLC raised its position in shares of Penn National Gaming by 3.6% in the fourth quarter. Teachers Advisors LLC now owns 124,065 shares of the company’s stock valued at $1,711,000 after buying an additional 4,337 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in shares of Penn National Gaming during the first quarter valued at about $539,000. 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.