U.S. markets close in 4 hours 24 minutes

Penn National Gaming, Inc. (PENN)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
67.82+3.84 (+5.99%)
As of 11:35AM EDT. Market open.
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Bearishpattern detected
MACD

MACD

Previous Close63.98
Open62.65
Bid68.09 x 800
Ask68.12 x 900
Day's Range62.25 - 68.64
52 Week Range3.75 - 76.62
Volume18,058,591
Avg. Volume9,601,593
Market Cap9.958B
Beta (5Y Monthly)2.84
PE Ratio (TTM)N/A
EPS (TTM)-7.36
Earnings DateOct 29, 2020 - Nov 02, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est62.64
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
-9% Est. Return
Research that delivers an independent perspective, consistent methodology and actionable insight
Related Research
View more
  • Penn National Gaming Looks to Raise $1 Billion
    Motley Fool

    Penn National Gaming Looks to Raise $1 Billion

    Penn National Gaming (NASDAQ: PENN) shares were down over 8% this morning after the company announced a public offering of 14 million shares. The move comes after Penn National stock had run up 658% over the last six months.

  • Penn National Cashes in on Barstool Euphoria With Share Sale
    Bloomberg

    Penn National Cashes in on Barstool Euphoria With Share Sale

    (Bloomberg) -- Penn National Gaming Inc. is taking advantage of its nearly three-fold surge this year, helped by its minority interest in Barstool Sports, to sell 14 million shares of its stock.The offering, underwritten by Goldman Sachs, BofA Securities and JPMorgan, will start trading on Friday, according to a person familiar with the matter who isn’t authorized to speak to the press. The timing means there will be no price range governing the share sale. The offering, announced early Thursday, represents 11% of the company’s public float as of Aug. 31, according to data compiled by Bloomberg.Penn’s shares traded to a record high Tuesday after analysts at Morgan Stanley said the Barstool Sportsbook betting app reached 21,000 downloads per day in its first weekend, breaking records set by competitors DraftKings Inc. and Flutter Entertainment Plc’s FanDuel.The casino operator fell as much as 9.3%, the most in three months, on news of the stock offering and after an analyst downgraded shares to neutral. Macquarie’s Chad Beynon lowered his rating on the stock, citing the company’s leverage that could be viewed as “problematic” if there is another wave of coronavirus cases or if demand slows. He also said the current valuation ascribes $6 billion of value to Barstool and internet gaming alone.“Investors were quick to jump into the stock as a way to play the sports betting and iGaming market, but we believe Penn shares are now priced to perfection ahead of a marketing frenzy in the industry,” Beynon wrote in the note. While he remains optimistic on the outlook for the casino industry in the long-term, a general return to normal would likely pull consumer spending from casinos and into other industries like restaurants and travel.While the shares had gained 170% this year through Wednesday, they’d surged more than 1,400% from a March 18 bottom -- jumping to a record $76.62 from $3.75. The company’s $8.8 billion market value makes it larger than legacy casinos including Caesars Entertainment Inc. and Wynn Resorts Ltd.A key part of the optimism for shares of Penn National has been its 36% interest in the controversial sports and pop-culture outlet Barstool Sports and the recently launched mobile betting app. The outlet’s millions of followers, paired with social media celebrities including founder Dave Portnoy and contributers like Big Cat and PFT Commentator, have driven bullish analysts to assign sky-high valuations and forecast big gains for the company.While Barstool Sportsbook is only launched in Pennsylvania, the key debate centers on its ability to take market share from peers with less of a hold on customers while competing against heavyweights in DraftKings and FanDuel. The pair holds about 70% of the U.S. online sports betting market with Boston-based DraftKings having struck deals with Walt Disney Co.’s ESPN network and professional sports teams like the Chicago Cubs and New York Giants.Macquarie’s Beynon started coverage of DraftKings with an outperform rating and a Wall Street-high price target of $65. His target implies shares will gain another 35% over the next year -- that would add to gains of 173% since the company started trading on U.S. markets in April.(Updates share movement in fourth paragraph, chart added.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.