Penn National,<\/a> some analysts see more good than bad in the operator\u2019s first-quarter results.<\/p>\n\u201cPENN\u2019s 1Q22 earnings report clearly showed us more positives versus negatives,\u201d writes Stifel analyst Steven Wieczynski in a note. \u201cNot even sure we would call this a negative. But it might be viewed that way to some, as there was margin erosion for the second straight quarter. However, we would rather look at property level EBITDA margins, which came in at 37.1%.\u201d<\/p>\n
He has a \u201cbuy\u201d rating on Penn with a $61 price target. In the first three months of this year, Penn repurchased $175 million of its own shares, confirming management sees value in its downtrodden stock. The company has $575 million remaining on a previously announced buyback plan.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"On a brutal day for broader equity benchmarks, casino stocks weren\u2019t immune from intense selling pressure, and Penn National Gaming (NASDAQ:PENN) was one of the victims. On volume that was more than 25% above the daily average, shares of the largest regional casino operator sank 5.6% today, extending the casino stock\u2019s one month decline to […]<\/p>\n","protected":false},"author":46,"featured_media":212274,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Penn National Among Casino Stocks Drubbed Today<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n