Penn National Gaming (PENN) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

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Penn National Gaming (NASDAQ:PENN) released its quarterly earnings results on Thursday. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.05), MarketWatch Earnings reports. Penn National Gaming had a return on equity of 268.43% and a net margin of 18.02%. The firm had revenue of $789.70 million for the quarter, compared to analysts’ expectations of $807.79 million. During the same period last year, the firm earned $0.25 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Penn National Gaming updated its Q4 2018 guidance to $-0.4–0.4 EPS and its FY 2018 guidance to $0.90-0.90 EPS.

Shares of PENN traded down $0.40 during midday trading on Thursday, hitting $23.88. The company had a trading volume of 5,567,032 shares, compared to its average volume of 1,571,190. The company has a market capitalization of $2.15 billion, a P/E ratio of 2.66, a PEG ratio of 1.13 and a beta of 1.61. Penn National Gaming has a 52 week low of $21.91 and a 52 week high of $36.90. The company has a debt-to-equity ratio of 162.63, a quick ratio of 0.63 and a current ratio of 0.63.

In other Penn National Gaming news, CEO Timothy J. Wilmott acquired 100,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was acquired at an average price of $30.85 per share, with a total value of $3,085,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Saul Reibstein sold 6,694 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $35.00, for a total transaction of $234,290.00. Following the sale, the director now directly owns 25,642 shares of the company’s stock, valued at approximately $897,470. The disclosure for this sale can be found here. 10.56% of the stock is currently owned by insiders.

Several equities research analysts have recently weighed in on PENN shares. BidaskClub downgraded shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. ValuEngine downgraded shares of Penn National Gaming from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Bank of America reissued a “hold” rating and issued a $31.00 target price on shares of Penn National Gaming in a research report on Tuesday, October 16th. Zacks Investment Research downgraded shares of Penn National Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, SunTrust Banks started coverage on shares of Penn National Gaming in a research report on Tuesday, October 2nd. They issued a “buy” rating and a $39.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.08.

Penn National Gaming Company Profile

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 Northeast, South/West, and Midwest segments. As of December 31, 2017, it operated 27 facilities in 17 jurisdictions, including California, Florida, Illinois, Indiana, Kansas, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Pennsylvania, Texas, West Virginia, and Ontario, Canada.

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Earnings History for Penn National Gaming (NASDAQ:PENN)

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