Instinet reaffirmed their neutral rating on shares of Penn National Gaming, Inc. (NASDAQ:PENN) in a research note issued to investors on Monday. Instinet currently has a $21.00 price target on the stock, up from their previous price target of $19.00.
Other analysts have also issued research reports about the stock. Barclays PLC boosted their price target on shares of Penn National Gaming from $20.00 to $21.00 and gave the company an overweight rating in a research note on Monday, March 27th. Zacks Investment Research lowered shares of Penn National Gaming from a buy rating to a hold rating in a research note on Thursday, May 25th. BidaskClub upgraded shares of Penn National Gaming from a buy rating to a strong-buy rating in a research note on Tuesday, June 13th. Stifel Nicolaus upped their target price on shares of Penn National Gaming from $21.00 to $23.00 and gave the stock a buy rating in a research note on Tuesday, May 16th. Finally, FBR & Co reiterated an outperform rating and issued a $23.00 target price (up previously from $20.00) on shares of Penn National Gaming in a research note on Monday, April 10th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $20.27.
Shares of Penn National Gaming (NASDAQ PENN) opened at 21.50 on Monday. Penn National Gaming has a 1-year low of $11.93 and a 1-year high of $22.19. The firm has a market cap of $1.95 billion, a PE ratio of 21.76 and a beta of 0.99. The firm’s 50-day moving average price is $19.85 and its 200 day moving average price is $16.51.
Penn National Gaming (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.02. The business had revenue of $776.20 million for the quarter, compared to the consensus estimate of $769.81 million. Penn National Gaming had a net margin of 2.97% and a negative return on equity of 19.08%. The business’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Penn National Gaming will post $0.63 EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Penn National Gaming during the first quarter worth $128,000. Van ECK Associates Corp increased its position in shares of Penn National Gaming by 9.2% in the fourth quarter. Van ECK Associates Corp now owns 9,429 shares of the company’s stock worth $130,000 after buying an additional 795 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Penn National Gaming during the first quarter worth $134,000. State of Alaska Department of Revenue bought a new position in shares of Penn National Gaming during the first quarter worth $168,000. Finally, Amalgamated Bank bought a new position in shares of Penn National Gaming during the first quarter worth $195,000. 94.55% of the stock is currently owned by institutional investors.
About Penn National Gaming
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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