Penn National Gaming (NASDAQ:PENN) PT Lowered to $70.00 at Truist Securities

Penn National Gaming (NASDAQ:PENN) had its target price trimmed by Truist Securities from $95.00 to $70.00 in a report issued on Thursday morning, Stock Target Advisor reports. The brokerage currently has a buy rating on the stock. Truist Securities also issued estimates for Penn National Gaming’s Q4 2021 earnings at $0.47 EPS, FY2021 earnings at $2.63 EPS, Q1 2022 earnings at $0.35 EPS, Q2 2022 earnings at $0.62 EPS, Q3 2022 earnings at $0.52 EPS, Q4 2022 earnings at $0.52 EPS and FY2023 earnings at $2.53 EPS.

PENN has been the topic of a number of other research reports. The Goldman Sachs Group lowered their target price on Penn National Gaming from $128.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, October 27th. Berenberg Bank started coverage on Penn National Gaming in a report on Tuesday, October 19th. They issued a buy rating and a $95.00 target price on the stock.
Craig Hallum lowered their target price on Penn National Gaming from $130.00 to $96.00 in a report on Tuesday, January 4th. Jefferies Financial Group decreased their price objective on Penn National Gaming from $81.00 to $62.00 and set a hold rating on the stock in a research note on Friday, November 5th. Finally, Roth Capital initiated coverage on Penn National Gaming in a research note on Tuesday, October 12th. They issued a buy rating and a $107.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $93.50.

Shares of NASDAQ:PENN opened at $44.45 on Thursday. The company has a market cap of $7.53 billion, a P/E ratio of 19.24 and a beta of 2.49. The company has a debt-to-equity ratio of 2.21, a current ratio of 2.82 and a quick ratio of 2.82. Penn National Gaming has a 1 year low of $43.36 and a 1 year high of $142.00. The stock’s fifty day moving average price is $50.87 and its 200-day moving average price is $65.78.

Penn National Gaming (NASDAQ:PENN) last posted its earnings results on Thursday, November 4th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.32). Penn National Gaming had a net margin of 7.22% and a return on equity of 13.64%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the company posted $0.93 EPS. The firm’s revenue was up 33.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Penn National Gaming will post 2.64 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in PENN. Moors & Cabot Inc. grew its position in shares of Penn National Gaming by 350.9% during the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the company’s stock worth $26,000 after purchasing an additional 19,455 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Penn National Gaming by 428.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 386 shares of the company’s stock valued at $28,000 after buying an additional 313 shares in the last quarter. Manchester Capital Management LLC purchased a new position in Penn National Gaming during the 3rd quarter valued at approximately $28,000. Crewe Advisors LLC grew its holdings in Penn National Gaming by 43.6% during the 2nd quarter. Crewe Advisors LLC now owns 494 shares of the company’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its holdings in Penn National Gaming by 155.5% during the 3rd quarter. Berman Capital Advisors LLC now owns 649 shares of the company’s stock valued at $47,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 78.52% of the company’s stock.

About Penn National Gaming

Penn National Gaming, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, and Midwest, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.

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Analyst Recommendations for Penn National Gaming (NASDAQ:PENN)

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