Penn National Gaming (PENN, Financial) experienced significant stock price movement with a rapid increase of 5.06%. The stock is currently priced at $21.50 per share with a trading volume of 1.904 million shares and a turnover rate of 1.25%. The stock's amplitude stands at 6.89%.
Recent financial reports reveal that Penn National Gaming reported revenue of $1.639 billion and a net loss of $36.70 million, resulting in earnings per share of -$0.24. The company achieved a gross profit of $460 million, and its price-to-earnings (P/E) ratio is -6.10.
Regarding institutional ratings, among 21 institutions covering the stock, 43% recommend buying while 57% suggest holding. No institutions have issued a sell recommendation.
In the broader casino and gaming sector, which saw an overall decline of 1.68%, Penn National Gaming, alongside Hilton Grand Vacations Inc. and Vail Resorts, Inc., recorded significant gains. Active stocks in the sector include Wynn Resorts, Penn National Gaming, and Caesars Entertainment, with turnover rates of 1.67%, 1.25%, and 1.11%, respectively. Notably volatile stocks in the industry include Century Casinos, Penn National Gaming, and Melco Resorts & Entertainment with amplitudes of 17.47%, 6.89%, and 5.48% respectively.
Penn National Gaming traces its roots to a racetrack established in Pennsylvania in 1972. Today, Penn operates 43 casinos across 20 U.S. states under 12 brands including Hollywood Casino and Ameristar. In 2023, 89% of its total sales were from land-based casinos, while 11% came from its interactive segment, encompassing sports, iGaming, and media revenue. Retail EBITDAR margins are approximately 30%, aiding in Penn's acquisition of digital gaming licenses. Penn's media assets, theScore and ESPN, contribute to its digital presence by providing sports betting and iGaming technology and clientele, following their collaboration starting November 2023.
