Penn National Gaming, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.4. If we narrow it down even further, the data shows that 2 out of 17 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 5 recommended PENN as a Hold, whereas 10 deemed it a Buy, and no one rated it as Underweight. Penn National Gaming, Inc. is expected to report earnings per share of $0.26 for the current quarter.
Penn National Gaming, Inc. (NASDAQ:PENN): Trading Information Today
Although PENN has been showing red trend so far today with a performance of -2.31% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $124.0 on Monday, Feb 22 increased the stock’s daily price by 7.25%. The company’s shares are currently up 0.33% year-to-date, but still down -0.0016 over the last five days. On the other hand, Penn National Gaming, Inc. (NASDAQ:PENN) is 0.05% up in the 30-day period. We can see from the shorts that 11.68 Million shares have been sold at a short interest cover period of 2.7 day(s).
The consensus price target as assigned by Wall Street analysts is $115.2, which translates to bears needing to increase their stock price by 0.09% from its current value. Analyst projections state that PENN is forecast to be at a low of $31 and a high of $150. In order for the stock price to hit the forecast high, the stock would need to surge +30.32% from its current level, while the stock would need to crash -73.07% from its current level to reach the projected low.
Penn National Gaming, Inc. (PENN) projections and forecasts
Penn National Gaming, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +108.24 percent over the past six months and at a -133.2% annual growth rate that is well below the industry average of 4.9%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +104.9% in revenue this quarter, and will report an increase of 120.7% in the next quarter. The year-over-year growth rate is expected to be 39.2%, up from the previous year.
Consensus estimates provided by 15 financial analysts predict the company will bring in an average of $1.13 Billion in revenue for the current quarter. 15 analysts expect Penn National Gaming, Inc. to make $1.2 Billion in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $1.12 Billion and $249.08 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 1.5%. Forecasts for the next quarter put sales growth at 381.6%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 16.6%. Penn National Gaming, Inc. earnings are expected to decrease by -60% in 2021, but the outlook is negative 0% per year for the next five years.
Penn National Gaming, Inc. (NASDAQ:PENN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 4.4% of Penn National Gaming, Inc. shares, and 89.26% of them are in the hands of institutional investors. The stock currently has a share float of 93.37%. Penn National Gaming, Inc. stock is held by 549 institutions, with FMR, LLC being the largest institutional investor. By Dec 30, 2020, it held 13.23% of the shares, which is about 20.55 Million shares worth $1.78 Billion.
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Blackrock Inc., with 12.4% or 19.26 Million shares worth $1.66 Billion as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Baron Growth Fund and Fidelity Blue Chip Growth Fund were the top two Mutual Funds as of Sep 29, 2020. The former held 6250000 shares worth $454.38 Million, making up 4.02% of all outstanding shares. On the other hand, Fidelity Blue Chip Growth Fund held roughly 4.26 Million shares worth around $367.7 Million, which represents about 2.74% of the total shares outstanding.