Penn National Gaming, Inc. (PENN) Fourth-Quarter Results In Line With Estimates
February 04, 2010 3:54 PM
Analysts at JP Morgan (NYSE: JPM) have released an update on Penn National Gaming, Inc. (NASDAQ: PENN). The company reported EBITDA of $120.9 million for the fourth quarter, in line with analysts’ estimate of $120.6 million.
The company reported revenue of $556 million for the quarter, which was ahead of analysts’ estimate of $547 million. The company reported a loss of $4.54 per share for the quarter, which included a $520.6 million impairment charge.
The company also issued guidance for the first-quarter. The company expects revenue of $597 million in the first-quarter. For the full year, the company expects revenue of $2.433 billion, and EBITDA of $563 million.
According to analysts, the company is intentionally providing a conservative guidance after two quarterly misses in a row. Analysts at JP Morgan have an Overweight rating for Penn National Gaming, Inc.
