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Penn National Gaming, Inc.
PENN Details
Penn National Gaming, Inc. (NASDAQ: PENN) is a multijurisdictional, leading, diversified owner and omni-channel operator of gaming and racing venues, online gaming, retail and online sports betting activities, and video gaming terminal (VGT) operations. It has ownership interests in 43 gaming and racing properties in 20 states as of September 30, 2021, including Hollywood Casino York in York, Pennsylvania, and Hollywood Casino Perryville in Perryville, Maryland.
Latest News:
9MFY21 Results:
Key Risks:
Valuation Methodology: Price/Earnings Per Share Multiple Based Relative Valuation
(Analysis by Kalkine Group)
PENN Daily Technical Chart (Source: REFINITIV)
Stock Recommendation:
PENN's stock price has fallen 53.41% in the past nine months and is leaning towards the lower band of the 52-week range of USD 54.43 to USD 142.00. The stock is currently trading far below its 50 and 200 DMA levels, and its RSI Index is at 30.63, indicating an oversold zone. We have valued the stock using the Price/Earnings-based relative valuation methodology and arrived at a target price of USD 65.65.
Considering the company's growth prospects, strategic acquisition, strong margins, associated risks, and current trading levels, we recommend a "Buy" rating on the stock at the current price of USD 54.79, down 3.30% as of November 17, 2021, 10:57 AM ET.
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.
*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the estimated target price is reached.