TipRanksStock Market NewsPENN NewsPenn National Gaming (PENN) Gets a Buy Rating from Needham

Penn National Gaming (PENN) Gets a Buy Rating from Needham

Needham analyst Bernie McTernan maintained a Buy rating on Penn National Gaming (PENNResearch Report) today and set a price target of $60.00. The company’s shares closed last Wednesday at $36.59.

According to TipRanks.com, McTernan is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -20.0% and a 29.1% success rate. McTernan covers the Services sector, focusing on stocks such as Rush Street Interactive, Peloton Interactive, and Super Group (SGHC).

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Penn National Gaming with a $49.79 average price target, representing a 34.9% upside. In a report issued on July 20, Truist Financial also maintained a Buy rating on the stock with a $48.00 price target.

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Based on Penn National Gaming’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.56 billion and net profit of $51.7 million. In comparison, last year the company earned revenue of $1.27 billion and had a net profit of $91 million.

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Penn National Gaming, Inc. owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West and Midwest.. The Northeast segment consists of the following properties: Hollywood Casino at Charles Town Races, Hollywood Casino Bangor, Hollywood Casino at Penn National Race Course, Hollywood Casino Toledo, Hollywood Casino Columbus, Hollywood Gaming at Dayton Raceway, Hollywood Gaming at Mahoning Valley Race Course, and Plain ridge Park Casino. The South and West segment comprises of the following properties: Zia Park Casino, Hollywood Casino Tunica, Hollywood Casino Gulf Coast, Boomtown Biloxi, M Resort, Tropicana Las Vegas, 1st Jackpot and Resorts. The Midwest segment controls the following properties: Hollywood Casino Aurora, Hollywood Casino Joliet, Argosy Casino Alton, Argosy Casino Riverside, Hollywood Casino Lawrenceburg, Hollywood Casino St. Louis, and Prairie State Gaming. The company was founded in 1982 and is headquartered in Wyomissing, PA.

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