Penn National Gaming Inc (PENN) Releases Earnings Results, Beats Expectations By $0.10 EPS

Penn National Gaming Inc (PENN) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.38 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.10. Analysts had a consensus of $0.28. The company posted revenue of $769.40 million in the period, compared to analysts expectations of $777.71 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on Penn National Gaming Inc. Penn National Gaming Inc was Upgraded by Macquarie to ” Outperform” on Jun 30, 2016. Penn National Gaming Inc was Upgraded by Morgan Stanley to ” Equal-Weight” on Jun 2, 2016.

Penn National Gaming Inc opened for trading at $14.86 and hit $15.149 on the upside on Thursday, eventually ending the session at $15.07, with a gain of 5.46% or 0.78 points. The heightened volatility saw the trading volume jump to 36,50,288 shares. Company has a market cap of $1,229 M.

In a different news, on May 26, 2016, Ronald J Naples (director) purchased 1,000 shares at $14.68 per share price. According to the SEC, on Dec 1, 2015, William J Fair (EVP – Chief Dev Officer) purchased 4,000 shares at $15.99 per share price. On Nov 24, 2015, Jane Scaccetti (director) purchased 2,000 shares at $16.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Penn National Gaming Inc. is an owner and manager of gaming and pari-mutuel properties. The Company’s segments include the East/Midwest segment the West segment and the Southern Plains segment. The East/Midwest segment properties include Hollywood Casino at Charles Town Races Hollywood Casino at Penn National Race Course Hollywood Casino Lawrenceburg Hollywood Casino Toledo Hollywood Casino Columbus Hollywood Gaming at Dayton Raceway Hollywood Gaming at Mahoning Valley Race Course Hollywood Casino Bangor and Casino Rama. The West segment properties include Zia Park Casino and the M Resort. The Southern Plains segment properties include Hollywood Casino Aurora Hollywood Casino Joliet Argosy Casino Alton Hollywood Casino Gulf Coast Argosy Casino Riverside Hollywood Casino Tunica Boomtown Biloxi Hollywood Casino at Kansas Speedway and Hollywood Casino St. Louis. Tropicana Las Vegas Hotel and Casino Inc. is a subsidiary of the Company.

Penn National Gaming Inc

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