Penn National Gaming, Inc. (NASDAQ:PENN) posted its earnings results on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.07, MarketWatch Earnings reports. Penn National Gaming had a net margin of 2.39% and a negative return on equity of 16.50%. The company had revenue of $796.50 million during the quarter, compared to analysts’ expectations of $788.65 million. During the same period in the previous year, the company posted $0.37 EPS. Penn National Gaming’s quarterly revenue was up 3.5% compared to the same quarter last year. Penn National Gaming updated its Q3 guidance to $0.20 EPS and its FY17 guidance to $0.59 EPS.
Shares of Penn National Gaming (PENN) opened at 20.52 on Monday. The stock’s 50 day moving average price is $21.07 and its 200 day moving average price is $17.96. The firm has a market capitalization of $1.86 billion, a P/E ratio of 27.65 and a beta of 1.01. Penn National Gaming has a 52 week low of $11.93 and a 52 week high of $22.19.
A number of brokerages have weighed in on PENN. BidaskClub raised Penn National Gaming from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Deutsche Bank AG reissued a “buy” rating and set a $25.00 price target (up previously from $22.00) on shares of Penn National Gaming in a research note on Thursday, June 22nd. Instinet reissued a “neutral” rating and set a $21.00 price target (up previously from $19.00) on shares of Penn National Gaming in a research note on Monday, June 19th. Zacks Investment Research raised Penn National Gaming from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $23.00 target price on shares of Penn National Gaming in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.00.
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Penn National Gaming Company Profile
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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