Penn National Gaming, Inc. (NASDAQ:PENN) Receives $67.28 Average Price Target from Analysts

Penn National Gaming, Inc. (NASDAQ:PENNGet Rating) has received a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $67.28.

Several equities analysts recently issued reports on the company. StockNews.com initiated coverage on Penn National Gaming in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Jefferies Financial Group upgraded Penn National Gaming from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, May 18th. Truist Financial dropped their target price on Penn National Gaming from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, April 19th. Morgan Stanley upgraded Penn National Gaming from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $55.00 to $51.00 in a research report on Monday, April 25th. Finally, Wells Fargo & Company dropped their target price on Penn National Gaming from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 13th.

A number of hedge funds have recently bought and sold shares of PENN. Renaissance Technologies LLC lifted its stake in Penn National Gaming by 79.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock valued at $75,891,000 after buying an additional 791,500 shares in the last quarter. Fir Tree Capital Management LP purchased a new stake in Penn National Gaming in the 1st quarter valued at approximately $31,616,000. State Street Corp lifted its stake in Penn National Gaming by 14.7% in the 4th quarter. State Street Corp now owns 5,488,185 shares of the company’s stock valued at $284,562,000 after buying an additional 703,925 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in Penn National Gaming in the 4th quarter valued at approximately $32,517,000. Finally, American Century Companies Inc. lifted its stake in Penn National Gaming by 4,433.1% in the 4th quarter. American Century Companies Inc. now owns 538,530 shares of the company’s stock valued at $27,923,000 after buying an additional 526,650 shares in the last quarter. 81.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PENN stock opened at $28.34 on Thursday. The stock has a market capitalization of $4.73 billion, a PE ratio of 12.65 and a beta of 2.36. Penn National Gaming has a 52-week low of $26.46 and a 52-week high of $86.40. The stock’s 50-day moving average price is $33.00 and its 200 day moving average price is $41.43. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.22.

Penn National Gaming (NASDAQ:PENNGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.16). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.53 billion. Penn National Gaming had a net margin of 6.16% and a return on equity of 10.91%. The business’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS. Analysts expect that Penn National Gaming will post 1.6 earnings per share for the current fiscal year.

Penn National Gaming Company Profile (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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