In the last trading session, 3.26 million shares of the Penn National Gaming Inc. (NASDAQ:PENN) were traded, and its beta was 2.53. Most recently the company’s share price was $74.21, and it changed around $2.07 or 2.87% from the last close, which brings the market valuation of the company to $11.96B. PENN currently trades at a discount to its 52-week high of $142.00, offering almost -91.35% off that amount. The share price’s 52-week low was $52.09, which indicates that the current value has risen by an impressive 29.81% since then. We note from Penn National Gaming Inc.’s average daily trading volume that its 3-month average coming to 4.57 million.
Penn National Gaming Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.40. If we narrow it down even further, the data shows that 2 out of 18 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 5 recommended PENN as a Hold, whereas 10 deemed it a Buy, and 0 rated it as Underweight. Penn National Gaming Inc. is expected to report earnings per share of $0.88 for the current quarter.
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Instantly PENN has showed a green trend with a performance of 2.87% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 77.28 on Tuesday, 10/12/21 increased the stock’s daily price by 3.97%. The company’s shares are currently down -14.08% year-to-date, but still up 2.33% over the last five days. On the other hand, Penn National Gaming Inc. (NASDAQ:PENN) is -4.64% up in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $99.12, which translates to bulls needing to increase their stock price by 25.13% from its current value. Analyst projections state that PENN is forecast to be at a low of $31.00 and a high of $140.00. In order for the stock price to hit the forecast high, the stock would need to plunge -88.65% from its current level, while the stock would need to crash 58.23% from its current level to reach the projected low.
Penn National Gaming Inc. (PENN) estimates and forecasts
Penn National Gaming Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -26.23 percent over the past six months and at a 164.20% annual growth rate that is well above the industry average of 22.00%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will loss -5.40% in revenue this quarter, and will report an increase of 1,000.00% in the next quarter. The year-over-year growth rate is expected to be 62.40%, up from the previous year.
Consensus estimates provided by 15 financial analysts predict the company will bring in an average of $1.51 billion in revenue for the current quarter. 15 analysts expect Penn National Gaming Inc. to make $1.48 billion in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $1.13 billion and $1.03 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 33.80%. Forecasts for the next quarter put sales growth at 44.40%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 36.33%.
Penn National Gaming Inc.’s next quarterly earnings report is expected to be released on November 04.
Penn National Gaming Inc. (NASDAQ:PENN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.69% of Penn National Gaming Inc. shares, and 87.94% of them are in the hands of institutional investors. The stock currently has a share float of 89.46%. Penn National Gaming Inc. stock is held by 751 institutions, with FMR, LLC being the largest institutional investor. By Mar 30, 2021, it held 13.36% of the shares, which is about 20.88 million shares worth $2.19 billion.
Blackrock Inc., with 10.28% or 16.07 million shares worth $1.68 billion as of Mar 30, 2021, 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 Mar 30, 2021. The former held 6.25 million shares worth $654.73 million, making up 3.99% of all outstanding shares. On the other hand, Fidelity Blue Chip Growth Fund held roughly 4.51 million shares worth around $473.24 million, which represents about 2.89% of the total shares outstanding.