Penn National Gaming (PENN) Outpaces Stock Market Gains: What You Should Know

Penn National Gaming (PENN) closed the most recent trading day at $76.46, moving +1.85% from the previous trading session. The stock outpaced the S&P 500’s daily gain of 0.85%.

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Prior to today’s trading, shares of the casino operator had gained 13.74% over the past month. This has outpaced the Consumer Discretionary sector’s loss of 0.23% and the S&P 500’s loss of 0.37% in that time.

Wall Street will be looking for positivity from PENN as it approaches its next earnings report date. The company is expected to report EPS of $0.81, down 12.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.5 billion, up 32.76% from the year-ago period.

PENN’s full-year Zacks Consensus Estimates are calling for earnings of $3.21 per share and revenue of $5.73 billion. These results would represent year-over-year changes of +164.2% and +60.01%, respectively.

Investors might also notice recent changes to analyst estimates for PENN. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PENN currently has a Zacks Rank of #3 (Hold).

In terms of valuation, PENN is currently trading at a Forward P/E ratio of 23.42. This represents a premium compared to its industry’s average Forward P/E of 23.03.

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Penn National Gaming, Inc. (PENN): Free Stock Analysis Report

 

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