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Factors Setting the Tone for Penn National (PENN) Q1 Earnings
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Penn National Gaming, Inc. (PENN - Free Report) is scheduled to report first-quarter 2019 results on May 7, 2020. In the last reported quarter, the company’s bottom line missed the Zacks Consensus Estimate by 316.2%.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter earnings is pegged at 20 cents, lower than 35 cents reported in the year-ago quarter. Over the past 30 days, the company’s earnings estimates have witnessed sharp downward revisions. The consensus estimates for revenues stands at $1.28 billion, indicating a decline of 0.4% from the prior-year reported figure.
Factors to Note
Penn National’s first-quarter results are likely to reflect the impact of coronavirus pandemic. In fact, the company has temporarily halted all revenues generating operations since mid-March on account of the pandemic. Moreover, sharp increase in expenses due to the coronavirus-induced shut downs might have negatively impacted the company’s results in the quarter to be reported.
However, robust performance of the company’s Northeast segment is likely to have aided the to-be-reported quarter’s revenues. The Zacks Consensus Estimate for Northeast segment’s first-quarter revenues is pegged at $631 million, suggesting an improvement of 12.7% year over year. The company’s first-quarter performance is expected to have benefited from consistent business strategies and strong brand recognition. Further, the results are likely to reflect robust sports betting business.
Our proven model does not conclusively predict an earnings beat for Penn National this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. This is not the case here, as you will see below.
Earnings ESP: Penn National has an Earnings ESP of -203.89%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #4 (Sell).
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:
GP Strategies Corporation has an Earnings ESP of +58.33% and a Zacks Rank #3, at present.
Glu Mobile Inc. currently has an Earnings ESP of +600.00% and a Zacks Rank #3.
Today's Best Stocks from Zacks
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This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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Factors Setting the Tone for Penn National (PENN) Q1 Earnings
Penn National Gaming, Inc. (PENN - Free Report) is scheduled to report first-quarter 2019 results on May 7, 2020. In the last reported quarter, the company’s bottom line missed the Zacks Consensus Estimate by 316.2%.
Q1 Expectations
The Zacks Consensus Estimate for first-quarter earnings is pegged at 20 cents, lower than 35 cents reported in the year-ago quarter. Over the past 30 days, the company’s earnings estimates have witnessed sharp downward revisions. The consensus estimates for revenues stands at $1.28 billion, indicating a decline of 0.4% from the prior-year reported figure.
Factors to Note
Penn National’s first-quarter results are likely to reflect the impact of coronavirus pandemic. In fact, the company has temporarily halted all revenues generating operations since mid-March on account of the pandemic. Moreover, sharp increase in expenses due to the coronavirus-induced shut downs might have negatively impacted the company’s results in the quarter to be reported.
However, robust performance of the company’s Northeast segment is likely to have aided the to-be-reported quarter’s revenues. The Zacks Consensus Estimate for Northeast segment’s first-quarter revenues is pegged at $631 million, suggesting an improvement of 12.7% year over year. The company’s first-quarter performance is expected to have benefited from consistent business strategies and strong brand recognition. Further, the results are likely to reflect robust sports betting business.
Penn National Gaming, Inc. Price and EPS Surprise
Penn National Gaming, Inc. price-eps-surprise | Penn National Gaming, Inc. Quote
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Penn National this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat earnings. This is not the case here, as you will see below.
Earnings ESP: Penn National has an Earnings ESP of -203.89%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #4 (Sell).
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:
GP Strategies Corporation has an Earnings ESP of +58.33% and a Zacks Rank #3, at present.
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) currently has an Earnings ESP of +7.00% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Glu Mobile Inc. currently has an Earnings ESP of +600.00% and a Zacks Rank #3.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>