Revenue Update on Penn National Gaming Inc(NASDAQ:PENN)

Penn National Gaming Inc(NASDAQ:PENN) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $769.42M. Analysts estimated a revenue of $783.48M. Earnings per share were $0.37. Analysts had estimated an EPS of $0.30.

In a different note, On Jun 30, 2016, Macquarie said it Upgrades its rating on Penn National Gaming Inc. The shares have been rated ‘Outperform’ by the firm. On Jun 1, 2016, Morgan Stanley said it Upgrades its rating on Penn National Gaming Inc. In the research note, the firm Raises the price-target to $15.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Penn National Gaming Inc (PENN) shares turned negative on Thursdays trading session with the shares closing down -0.45 points or -3.04% at a volume of 9,91,320. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $14.915. The peak price level was also seen at $14.915 while the days lowest was $14.31. Finally the shares closed at $14.34. The 52-week high of the shares is $19.59 while the 52-week low is $12.51. According to the latest information available, the market cap of the company is $1,169 M.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Ronald J Naples (director) purchased 1,000 shares at $14.68 per share price.Also, 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.

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