Shares of Penn National Gaming, Inc (NASDAQ:PENN) have earned an average recommendation of “Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $28.70.

PENN has been the subject of several recent research reports. Wolfe Research initiated coverage on Penn National Gaming in a research note on Friday, June 14th. They issued a “peer perform” rating for the company. BidaskClub upgraded Penn National Gaming from a “sell” rating to a “hold” rating in a research note on Wednesday. Bank of America upgraded Penn National Gaming from a “neutral” rating to a “buy” rating in a research note on Thursday, May 9th. Union Gaming Research upgraded Penn National Gaming from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank reiterated a “buy” rating and issued a $27.00 price objective on shares of Penn National Gaming in a research note on Sunday, August 4th.

Shares of PENN traded down $0.10 during midday trading on Friday, hitting $18.40. The company had a trading volume of 13,877 shares, compared to its average volume of 2,040,593. The company’s 50-day simple moving average is $18.62 and its 200-day simple moving average is $20.79. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $2.14 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.11 and a beta of 1.73. Penn National Gaming has a 1 year low of $16.72 and a 1 year high of $35.36.

Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.10. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Penn National Gaming had a return on equity of 7.61% and a net margin of 1.90%. The business’s quarterly revenue was up 60.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. Equities analysts predict that Penn National Gaming will post 1.58 earnings per share for the current fiscal year.

In other Penn National Gaming news, Director Saul Reibstein bought 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $17.30 per share, for a total transaction of $51,900.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Handler bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $17.68 per share, with a total value of $530,400.00. Following the purchase, the director now owns 169,870 shares of the company’s stock, valued at $3,003,301.60. The disclosure for this purchase can be found here. 8.53% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its stake in Penn National Gaming by 72.3% during the second quarter. Royal Bank of Canada now owns 56,473 shares of the company’s stock worth $1,087,000 after purchasing an additional 23,706 shares during the last quarter. Verition Fund Management LLC lifted its stake in Penn National Gaming by 5,224.4% during the second quarter. Verition Fund Management LLC now owns 61,493 shares of the company’s stock worth $1,184,000 after purchasing an additional 62,693 shares during the last quarter. Bamco Inc. NY lifted its stake in Penn National Gaming by 2.8% during the second quarter. Bamco Inc. NY now owns 8,551,553 shares of the company’s stock worth $164,703,000 after purchasing an additional 234,458 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Penn National Gaming by 7,627.1% during the second quarter. Nuveen Asset Management LLC now owns 5,025,319 shares of the company’s stock worth $96,787,000 after purchasing an additional 4,960,284 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Penn National Gaming by 9.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,022,322 shares of the company’s stock worth $38,950,000 after purchasing an additional 181,077 shares during the last quarter. Hedge funds and other institutional investors own 93.82% of the company’s stock.

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 four segments: Northeast, South, West, and Midwest. As of December 31, 2018, it owned, managed, or had ownership interests in 40 facilities in 18 jurisdictions.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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