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Penn National Gaming (PENN) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Penn National Gaming (PENN) closed at $71.78, marking a -1.58% move from the previous day. This change lagged the S&P 500's daily loss of 0.47%.

Heading into today, shares of the casino operator had lost 3.54% over the past month, outpacing the Consumer Discretionary sector's loss of 4.3% and lagging the S&P 500's gain of 3.38% in that time.

Wall Street will be looking for positivity from PENN as it approaches its next earnings report date. This is expected to be August 5, 2021. The company is expected to report EPS of $0.93, up 155.03% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.51 billion, up 394.71% from the year-ago period.

PENN's full-year Zacks Consensus Estimates are calling for earnings of $2.86 per share and revenue of $5.56 billion. These results would represent year-over-year changes of +157.2% and +55.41%, respectively.

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It is also important to note the recent changes to analyst estimates for PENN. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.61% higher. PENN is currently a Zacks Rank #2 (Buy).

Investors should also note PENN's current valuation metrics, including its Forward P/E ratio of 25.51. This represents a no noticeable deviation compared to its industry's average Forward P/E of 25.51.

The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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