Penn National Gaming (PENN) Stock Sinks As Market Gains: What You Should Know
Penn National Gaming (PENN) closed at $33.57 in the latest trading session, marking a -0.39% move from the prior day. This move lagged the S&P 500's daily gain of 0.84%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 2.51%.
Coming into today, shares of the casino operator had gained 6.21% in the past month. In that same time, the Consumer Discretionary sector gained 3.48%, while the S&P 500 gained 3.73%.
Wall Street will be looking for positivity from PENN as it approaches its next earnings report date. This is expected to be August 6, 2020. The company is expected to report EPS of -$2.08, down 572.73% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $207.98 million, down 84.28% from the year-ago period.
PENN's full-year Zacks Consensus Estimates are calling for earnings of -$7.63 per share and revenue of $3.06 billion. These results would represent year-over-year changes of -2162.16% and -42.22%, respectively.
It is also important to note the recent changes to analyst estimates for PENN. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 15.95% lower. PENN is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.