Penn National Gaming (PENN - Free Report) closed at $32.14 in the latest trading session, marking a +1.29% move from the prior day. This move outpaced the S&P 500's daily loss of 0.57%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq added 0.03%.
PENN will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$2.15, down 588.64% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $198.40 million, down 85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$8.11 per share and revenue of $3.06 billion. These totals would mark changes of -2291.89% and -42.27%, respectively, from last year.
Any recent changes to analyst estimates for PENN should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.79% higher. PENN is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.