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Penn National (PENN) to Post Q2 Earnings: What's in the Cards?
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Penn National Gaming, Inc. (PENN - Free Report) is scheduled to report second-quarter 2021 results on Aug 5, 2021, before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 83.3%.
How Are Estimates Placed?
The Zacks Consensus Estimate for second-quarter earnings is pegged at 93 cents, indicating growth of 155% year over year. In the prior-year quarter, the company had reported a loss per share of $1.69.
For revenues, the consensus mark is pegged at $1,462 million. The projection suggests a surge of 378.6% from the year-ago quarter’s reported figure.
Let's take a look at how things have shaped up in the quarter.
Factors to Note
Penn National’s second-quarter performance is likely to reflect solid recovery at its land-based operations owing to consistent vaccine rollouts and relaxation in COVID-related restrictions. This along with contributions from online and retail Barstool Sportsbooks and iCasino offerings (coupled with the integration of mychoice player loyalty program) is likely to have driven second-quarter top line. The Zacks Consensus Estimate for second-quarter gaming revenues is pegged at $1,188 million, suggesting an improvement of 358.3% year over year.
The company is likely to have witnessed solid segmental performance in the second quarter owing to additional easing of restrictions. The Zacks Consensus Estimate for the second-quarter revenues in Northeast, West, and Midwest segment is currently pegged at $637 million, $113 million and $271 million, indicating a surge of 518.4%, 538.4% and 652.8%, respectively, from the year-ago quarter’s reported figure. Meanwhile, the consensus mark for Other and South segments is pegged at $81 million and $325 million, which indicates growth of 193.5% and 166.4%, respectively, from the prior-year quarter’s levels.
Moreover, low customer acquisition costs, strong retention rates, unique promotions, exclusive betting features and high adoption among casual betters are likely to have benefitted the company in the second quarter. This along with emphasis on cross-sell opportunities through content creation and acquisition efforts is likely to have boosted the company’s performance in the to-be-reported quarter.
What Our Model Says
Our proven model predicts an earnings beat for Penn National this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Penn National has an Earnings ESP of +26.32%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these also have the right combination of elements to post an earnings beat this quarter:
Golden Entertainment, Inc. (GDEN - Free Report) sports a Zacks Rank #1 and has an Earnings ESP of +5.22%.
PlayAGS, Inc. (AGS - Free Report) has a Zacks Rank #2 and an Earnings ESP of +43.55%.
Electronic Arts Inc. (EA - Free Report) has a Zacks Rank #2 and an Earnings ESP of +1.79%.
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Penn National (PENN) to Post Q2 Earnings: What's in the Cards?
Penn National Gaming, Inc. (PENN - Free Report) is scheduled to report second-quarter 2021 results on Aug 5, 2021, before the opening bell. In the last reported quarter, the company delivered an earnings surprise of 83.3%.
How Are Estimates Placed?
The Zacks Consensus Estimate for second-quarter earnings is pegged at 93 cents, indicating growth of 155% year over year. In the prior-year quarter, the company had reported a loss per share of $1.69.
For revenues, the consensus mark is pegged at $1,462 million. The projection suggests a surge of 378.6% from the year-ago quarter’s reported figure.
Penn National Gaming, Inc. Price and EPS Surprise
Penn National Gaming, Inc. price-eps-surprise | Penn National Gaming, Inc. Quote
Let's take a look at how things have shaped up in the quarter.
Factors to Note
Penn National’s second-quarter performance is likely to reflect solid recovery at its land-based operations owing to consistent vaccine rollouts and relaxation in COVID-related restrictions. This along with contributions from online and retail Barstool Sportsbooks and iCasino offerings (coupled with the integration of mychoice player loyalty program) is likely to have driven second-quarter top line. The Zacks Consensus Estimate for second-quarter gaming revenues is pegged at $1,188 million, suggesting an improvement of 358.3% year over year.
The company is likely to have witnessed solid segmental performance in the second quarter owing to additional easing of restrictions. The Zacks Consensus Estimate for the second-quarter revenues in Northeast, West, and Midwest segment is currently pegged at $637 million, $113 million and $271 million, indicating a surge of 518.4%, 538.4% and 652.8%, respectively, from the year-ago quarter’s reported figure. Meanwhile, the consensus mark for Other and South segments is pegged at $81 million and $325 million, which indicates growth of 193.5% and 166.4%, respectively, from the prior-year quarter’s levels.
Moreover, low customer acquisition costs, strong retention rates, unique promotions, exclusive betting features and high adoption among casual betters are likely to have benefitted the company in the second quarter. This along with emphasis on cross-sell opportunities through content creation and acquisition efforts is likely to have boosted the company’s performance in the to-be-reported quarter.
What Our Model Says
Our proven model predicts an earnings beat for Penn National this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Penn National has an Earnings ESP of +26.32%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these also have the right combination of elements to post an earnings beat this quarter:
Golden Entertainment, Inc. (GDEN - Free Report) sports a Zacks Rank #1 and has an Earnings ESP of +5.22%.
PlayAGS, Inc. (AGS - Free Report) has a Zacks Rank #2 and an Earnings ESP of +43.55%.
Electronic Arts Inc. (EA - Free Report) has a Zacks Rank #2 and an Earnings ESP of +1.79%.