Penn National Gaming Inc. [PENN] Revenue clocked in at $3.89 billion, up 154.30% YTD: What’s Next?

Penn National Gaming Inc. [NASDAQ: PENN] gained 3.39% on the last trading session, reaching $65.00 price per share at the time. The company report on November 6, 2020 that Penn National Gaming Set to Open First Retail Barstool Sportsbook at Ameristar Casino Resort Spa Black Hawk Today.

Penn National Gaming, Inc. (PENN: Nasdaq) (“Penn National” or the “Company”) announced that it expects to open its first retail-branded Barstool Sportsbook at Ameristar Casino Resort Spa Black Hawk (“Ameristar Black Hawk”) today at 4:00pm MT, subject to any final regulatory approvals.

“We are very excited to be opening the first Barstool Sportsbook in the country at Ameristar Black Hawk,” said Jay Snowden, President and CEO of Penn National Gaming. “This will be the first of many new retail locations for Barstool Sportsbooks at our casinos nationwide. Each will incorporate several features that reflect the spirit of the Barstool Sports brand, resulting in unique sports betting experiences that we expect our customers will thoroughly enjoy.”.

Penn National Gaming Inc. represents 155.32 million in outstanding shares, while the company has a total market value of $9.76 billion with the latest information. PENN stock price has been found in the range of $64.10 to $67.73.

If compared to the average trading volume of 8.12M shares, PENN reached a trading volume of 4579496 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Penn National Gaming Inc. [PENN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PENN shares is $74.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PENN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Rosenblatt have made an estimate for Penn National Gaming Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2020. While these analysts kept the previous recommendation, Macquarie raised their target price from $56 to $66. The new note on the price target was released on September 24, 2020, representing the official price target for Penn National Gaming Inc. stock. Previously, the target price had yet another raise from $47 to $85, while Stifel kept a Buy rating on PENN stock.

The Average True Range (ATR) for Penn National Gaming Inc. is set at 4.73, with the Price to Sales ratio for PENN stock in the period of the last 12 months amounting to 2.51. The Price to Book ratio for the last quarter was 3.44, with the Price to Cash per share for the same quarter was set at 12.47. Price to Free Cash Flow for PENN in the course of the last twelve months was 32.44 with Quick ratio for the last quarter at 2.40.

Trading performance analysis for PENN stock

Penn National Gaming Inc. [PENN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.79. With this latest performance, PENN shares dropped by -6.26% in over the last four-week period, additionally plugging by 192.13% over the last 6 months – not to mention a rise of 199.26% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PENN stock in for the last two-week period is set at 53.03, with the RSI for the last a single of trading hit 59.37, and the three-weeks RSI is set at 53.88 for Penn National Gaming Inc. [PENN]. The present Moving Average for the last 50 days of trading for this stock 64.83, while it was recorded at 63.64 for the last single week of trading, and 38.12 for the last 200 days.

Penn National Gaming Inc. [PENN]: A deeper dive into fundamental analysis

Penn National Gaming Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.

Penn National Gaming Inc. [PENN]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Penn National Gaming Inc. posted 0.7/share EPS, while the average EPS was predicted by analysts to be reported at 0.37/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 89.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PENN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Penn National Gaming Inc. go to 10.38%.

An analysis of insider ownership at Penn National Gaming Inc. [PENN]

There are presently around $8,414 million, or 81.80% of PENN stock, in the hands of institutional investors. The top three institutional holders of PENN stocks are: FMR LLC with ownership of 20,481,535, which is approximately 14.805% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 16,677,251 shares of the stock with an approximate value of $1.08 billion in PENN stocks shares; and VANGUARD GROUP INC, currently with $784.68 million in PENN stock with ownership of nearly 15.596% of the company’s market capitalization.

270 institutional holders increased their position in Penn National Gaming Inc. [NASDAQ:PENN] by around 29,495,533 shares. Additionally, 149 investors decreased positions by around 13,970,252 shares, while 39 investors held positions by with 85,978,955 shares. The mentioned changes placed institutional holdings at 129,444,740 shares, according to the latest SEC report filing. PENN stock had 140 new institutional investments in for a total of 12,933,036 shares, while 45 institutional investors sold positions of 4,197,222 shares during the same period.

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