During the recent session, Penn National Gaming, Inc. (NASDAQ:PENN)’s traded shares were 1,577,768, with the beta value of the company hitting 2.68. At the last check, the stock’s price was $104.77, reflecting an intraday gain of 2.34% or $2.4. The 52-week high for the PENN share is $142, that puts it down -35.54% from that peak though still a striking +87.78% gain since the share price plummeted to a 52-week low of $12.8. The company’s market capitalization is $16.39 Billion, and the average intraday trading volume over the past 10 days was 5.51 Million shares, and the average trade volume was 5.26 Million shares over the past three months.
Penn National Gaming, Inc. (PENN) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 2.4. PENN has a Sell rating from 2 analyst(s) out of 14 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 8 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.27.
Penn National Gaming, Inc. (NASDAQ:PENN): Trading Information
Penn National Gaming, Inc. (PENN) registered a 2.34% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 5% in intraday trading to $110.1 this Monday, Apr 05, hitting a weekly high. The stock’s 5-day price performance is -0.17%, and it has moved by -4.23% in 30 days. Despite these dips, the overall price performance for the year is 21.18%. The short interest in Penn National Gaming, Inc. (NASDAQ:PENN) is 10.08 Million shares and it means that shorts have 1.92 day(s) to cover.
The consensus price target of analysts on Wall Street is $114.15, which implies an increase of 8.95% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $31 and $153 respectively. As a result, PENN is trading at a discount of 46.03% off the target high and -70.41% off the low.
Penn National Gaming, Inc. (PENN) projections and forecasts
Statistics show that Penn National Gaming, Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Penn National Gaming, Inc. (PENN) shares have gone up +45.23% during the last six months, with a year-to-date growth rate less than the industry average at -133.4% against 22.1%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 105.1% this quarter and then jump 121.9% in the quarter after that. In the rating firms’ projections, revenue will increase 39.2% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.13 Billion as predicted by 13 analyst(s). Meanwhile, a consensus of 13 analyst(s) estimates revenue growth to $1.2 Billion by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.12 Billion and $249.08 Million respectively. In this case, analysts expect current quarter sales to grow by 1.5% and then jump by 382.5% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 36.33%. While earnings are projected to return 135.4% in 2021, the next five years will return 0% per annum.
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Penn National Gaming, Inc. (NASDAQ:PENN)’s Biggest Investors
Penn National Gaming, Inc. insiders own 4.32% of total outstanding shares while institutional holders control 90.87%, with the float percentage being 94.97%. FMR, LLC is the largest shareholder of the company, while 609 institutions own stock in it. As of Dec 30, 2020, the company held over 20.55 Million shares (or 13.13% of all shares), a total value of $1.78 Billion in shares.
The next largest institutional holding, with 19.26 Million shares, is of Blackrock Inc.’s that is approximately 12.31% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $1.66 Billion.
Also, the Mutual Funds coming in first place with the largest holdings of Penn National Gaming, Inc. (PENN) shares are Baron Growth Fund and Fidelity Blue Chip Growth Fund. Data provided on Dec 30, 2020 indicates that Baron Growth Fund owns about 6,250,000 shares. This amounts to just over 3.99 percent of the company’s overall shares, with a $539.81 Million market value. The same data shows that the other fund manager holds slightly less at 4.43 Million, or about 2.83% of the stock, which is worth about $512.76 Million.