Penn National Gaming, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Penn National Gaming, Inc. (NASDAQ:PENNGet Rating) have been assigned a consensus recommendation of “Buy” from the twenty-one research firms that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $67.68.

Several brokerages have recently weighed in on PENN. Macquarie upgraded shares of Penn National Gaming from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $80.00 to $71.00 in a report on Wednesday, January 26th. Roth Capital lowered shares of Penn National Gaming from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $79.00 to $51.00 in a report on Friday, February 4th. Morgan Stanley upgraded shares of Penn National Gaming from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $55.00 to $51.00 in a report on Monday, April 25th. StockNews.com started coverage on shares of Penn National Gaming in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Penn National Gaming from $52.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 13th.

Several institutional investors have recently added to or reduced their stakes in PENN. Sageworth Trust Co of South Dakota bought a new position in shares of Penn National Gaming during the 4th quarter valued at approximately $25,000. Bessemer Group Inc. bought a new position in shares of Penn National Gaming during the 4th quarter valued at approximately $26,000. Citizens National Bank Trust Department bought a new position in shares of Penn National Gaming during the 4th quarter valued at approximately $26,000. San Luis Wealth Advisors LLC bought a new position in shares of Penn National Gaming during the 1st quarter valued at approximately $26,000. Finally, Manchester Capital Management LLC bought a new position in shares of Penn National Gaming during the 3rd quarter valued at approximately $28,000. 81.28% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ PENN opened at $31.79 on Friday. The firm’s 50-day moving average price is $38.04 and its 200-day moving average price is $45.12. Penn National Gaming has a 1-year low of $28.30 and a 1-year high of $86.40. The firm has a market capitalization of $5.30 billion, a P/E ratio of 14.19 and a beta of 2.35. The company has a current ratio of 1.88, a quick ratio of 1.96 and a debt-to-equity ratio of 3.22.

Penn National Gaming (NASDAQ:PENNGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Penn National Gaming had a net margin of 6.16% and a return on equity of 10.91%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $0.55 EPS. Penn National Gaming’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities research analysts forecast that Penn National Gaming will post 1.6 EPS for the current year.

Penn National Gaming declared that its board has authorized a share buyback plan on Thursday, February 3rd that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the company to repurchase up to 9.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

About Penn National Gaming (Get Rating)

Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals. It operates through five segments: Northeast, South, West, Midwest, Interactive. The company offers casino gaming, online gaming, live racing, sports betting, and digital sports content.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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