Penn National Gaming Inc. (NASDAQ:PENN) price on Thursday, August 26, rose 1.23% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $80.90.
A look at the stock’s price movement, the level at last check in today’s session was $79.92, moving within a range at $73.11 and $80.088. The beta value (5-Year monthly) was 2.58 while the PE ratio in trailing twelve months stood at 30.10. Turning to its 52-week performance, $142.00 and $50.93 were the 52-week high and 52-week low respectively. Overall, PENN moved 11.34% over the past month.
Penn National Gaming Inc.’s market cap currently stands at around $12.05 billion, with investors looking forward to this quarter’s earnings report slated for Oct 27, 2021 – Nov 01, 2021. Analysts project the company’s earnings per share (EPS) to be $0.92, which has seen fiscal year 2021 EPS growth forecast to increase to $3.19 and about $3.14 for fiscal year 2022. Per the data, EPS growth is expected to be 163.80% for 2021 and -1.60% for the next financial year.
Analysts have a consensus estimate of $1.46 billion for the company’s revenue for the quarter, with a low and high estimate of $1.2 billion and $1.54 billion respectively. The average forecast suggests up to a 484.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $5.74 billion, representing a 60.40% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that PENN is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
15 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 9 recommend PENN as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PENN’s current price about 15.85% and 12.61% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 67.04, while 7-day volatility ratio is 5.35% and 5.46% in the 30-day chart. Further, Penn National Gaming Inc. (PENN) has a beta value of 2.54, and an average true range (ATR) of 3.74. Analysts have given the company’s stock an average 52-week price target of $101.50, forecast between a low of $31.00 and high of $140.00. Looking at the price targets, the low is 61.68% off recent price level in today’s trading while to achieve the yearly target high, it has to move -73.05%. Nonetheless, investors will most likely welcome a -37.21% jump to $111.00 which is the analysts’ median price.
In the market, a comparison of Penn National Gaming Inc. (PENN) and its peers suggest the former has performed considerably stronger. Data shows PENN’s intraday price has changed 1.23% today and 42.26% over the past year. Comparatively, DraftKings Inc. (DKNG) has moved -2.45% so far today and only 53.89% in the past 12 months. Looking at another peer, we see that Las Vegas Sands Corp. (LVS) price has gained 0.12% on the day. However, the stock is -13.45% off its price today a year ago. Moreover, Caesars Entertainment Inc. (CZR) is also up 2.38% in today’s trading while keeping a an uptrend of 122.75% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.39% and -0.18% respectively on the day as seen in early trades.
If we refocus on Penn National Gaming Inc. (NASDAQ:PENN), historical trading data shows that trading volumes averaged 3.53 million over the past 10 days and 4.45 million over the past 3 months. The company’s latest data on shares outstanding shows there are 156.00 million shares.
The 0.80% of Penn National Gaming Inc.’s shares are in the hands of company insiders while institutional holders own 84.80% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 12.22 million on May 27, 2021, giving us a short ratio of 2.68. The data shows that as of May 27, 2021 short interest in Penn National Gaming Inc. (PENN) stood at 7.81% of shares outstanding, with shares short rising to 11.72 million registered in Apr 29, 2021. Current price change has pushed the stock -7.47% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PENN stock continues to rise going into the next quarter.