Shares of Penn National Gaming, Inc. (NASDAQ:PENN) have been assigned a consensus rating of “Hold” from the twenty-five ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $65.38.
PENN has been the subject of a number of research analyst reports. Loop Capital initiated coverage on shares of Penn National Gaming in a research report on Monday, November 16th. They issued a “hold” rating and a $60.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Penn National Gaming from $22.00 to $31.00 and gave the stock a “sell” rating in a research report on Thursday, October 1st. They noted that the move was a valuation call. Macquarie downgraded Penn National Gaming from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $56.00 to $66.00 in a report on Thursday, September 24th. Barclays increased their price objective on Penn National Gaming from $50.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Finally, BidaskClub downgraded Penn National Gaming from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 30th.
PENN stock opened at $89.21 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 4.81. Penn National Gaming has a one year low of $3.75 and a one year high of $99.24. The firm has a market capitalization of $13.86 billion, a PE ratio of -12.10 and a beta of 2.59. The firm has a 50-day moving average of $79.50 and a two-hundred day moving average of $58.90.
Penn National Gaming (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.45. Penn National Gaming had a negative net margin of 21.16% and a negative return on equity of 15.63%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was down 16.6% on a year-over-year basis. On average, equities research analysts anticipate that Penn National Gaming will post -0.36 earnings per share for the current year.
In other news, EVP Carl Sottosanti sold 93,134 shares of the firm’s stock in a transaction on Monday, November 30th. The shares were sold at an average price of $72.32, for a total value of $6,735,450.88. Following the sale, the executive vice president now owns 68,461 shares in the company, valued at $4,951,099.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Christine Labombard sold 6,732 shares of the firm’s stock in a transaction on Monday, December 21st. The stock was sold at an average price of $91.00, for a total transaction of $612,612.00. Following the completion of the sale, the chief accounting officer now owns 12,320 shares in the company, valued at approximately $1,121,120. The disclosure for this sale can be found here. In the last 90 days, insiders sold 415,646 shares of company stock worth $28,954,217. 1.81% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Nachman Norwood & Parrott Inc bought a new position in Penn National Gaming in the third quarter worth $36,000. Parkside Financial Bank & Trust bought a new position in Penn National Gaming in the third quarter worth $36,000. Trustcore Financial Services LLC lifted its position in Penn National Gaming by 75.5% in the third quarter. Trustcore Financial Services LLC now owns 579 shares of the company’s stock worth $42,000 after purchasing an additional 249 shares during the period. Summit X LLC bought a new position in Penn National Gaming in the third quarter worth $44,000. Finally, James Investment Research Inc. lifted its position in Penn National Gaming by 54.9% in the third quarter. James Investment Research Inc. now owns 880 shares of the company’s stock worth $64,000 after purchasing an additional 312 shares during the period. 87.81% of the stock is owned by hedge funds and other institutional investors.
Penn National Gaming Company Profile
Penn National Gaming, Inc, together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals with a focus on slot machine entertainment. The company operates through four segments: Northeast, South, West, and Midwest. It also offers live sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania, and West Virginia; and operates online casino under the name of iCasino in Pennsylvania.
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7 Tech Stocks To Buy On Sale
This too shall pass. Those four words should be taped to the computer screen of every investor. If you own shares of the tech sector, you’ve seen your portfolio take quite a hit. Tech stocks were largely immune from the effects of the pandemic.
However, as investors are looking to rebalance their portfolios, tech stocks were obvious targets for some profit-taking. And at the end of the day, that’s what I believe the latest tech selloff amounts to. Stocks don’t move in one direction all the time. Sure, there may be some saber-rattling about breaking up big tech. But with an election in less than two months, nobody will have the political will to do anything.
That doesn’t mean that it’s all going to be smooth sailing. Sure, the Federal Reserve did its part by promising low-interest rates until the end of time (or at least through 2023 whatever comes first). But the rest of 2020 is likely to be volatile for stocks.
First, there’s still the novel coronavirus hanging around. It’s not going to simply disappear after election day. That will take some combination of a vaccine and/or therapeutic. And all the likely candidates seem to be getting farther away the deeper into clinical trials they get.
And we have an election. But we are not likely to know the winner of the election on election night. In fact, for those who remember the spectacle of “hanging chads”, this election could make that one look like amateur hour.
The bottom line is there will be uncertainty. But there are always gains to be found, particularly now that their stock price has come down a little bit. Here are seven tech stocks that you can look to add or increase a position in now that they’re trading at a discount.
View the “7 Tech Stocks To Buy On Sale”.