PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Rating of “Hold” by Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given an average rating of “Hold” by the fifteen analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.7857.

PENN has been the topic of several recent research reports. Barclays increased their target price on PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Mizuho increased their target price on PENN Entertainment from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, March 12th. Citigroup increased their target price on PENN Entertainment from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Morgan Stanley increased their target price on PENN Entertainment from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on PENN Entertainment from $16.00 to $17.00 and gave the company a “hold” rating in a report on Friday, February 27th.

Institutional Trading of PENN Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of PENN Entertainment during the 4th quarter valued at $36,000. IFP Advisors Inc lifted its holdings in shares of PENN Entertainment by 76.2% during the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after purchasing an additional 1,196 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of PENN Entertainment during the 4th quarter valued at $47,000. Cloud Capital Management LLC purchased a new stake in shares of PENN Entertainment during the 3rd quarter valued at $54,000. Finally, Triumph Capital Management purchased a new stake in shares of PENN Entertainment during the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Down 4.5%

Shares of NASDAQ PENN opened at $14.77 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 3.92. The stock has a market capitalization of $1.97 billion, a PE ratio of -2.45, a price-to-earnings-growth ratio of 0.50 and a beta of 1.32. The stock’s fifty day simple moving average is $14.38 and its two-hundred day simple moving average is $14.72. PENN Entertainment has a 12-month low of $11.65 and a 12-month high of $20.60.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.30. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.76 billion. PENN Entertainment had a negative return on equity of 1.94% and a negative net margin of 12.11%.The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.44) EPS. As a group, analysts expect that PENN Entertainment will post 1.01 EPS for the current fiscal year.

PENN Entertainment Company Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.