In a report released yesterday, Steven Wieczynski from Stifel Nicolaus maintained a Buy rating on Penn National Gaming (PENN – Research Report), with a price target of $61.00. The company’s shares closed last Wednesday at $50.81, close to its 52-week low of $37.76.
According to TipRanks.com, Wieczynski is a 5-star analyst with an average return of 19.3% and a 60.6% success rate. Wieczynski covers the Services sector, focusing on stocks such as Lindblad Expeditions Holdings, Norwegian Cruise Line, and OneSpaWorld Holdings.
Currently, the analyst consensus on Penn National Gaming is a Moderate Buy with an average price target of $62.80, implying a 27.7% upside from current levels. In a report issued on January 26, Macquarie also upgraded the stock to Buy with a $71.00 price target.
Based on Penn National Gaming’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.57 billion and net profit of $45 million. In comparison, last year the company earned revenue of $1.03 billion and had a net profit of $11.1 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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