PENN Entertainment (NASDAQ:PENN) Upgraded at Stifel Nicolaus

PENN Entertainment (NASDAQ:PENN) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Friday, MarketBeat.com reports. The brokerage currently has a $21.00 price target on the stock, up from their prior price target of $19.00. Stifel Nicolaus’ price target would suggest a potential upside of 39.33% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday. Citigroup reissued an “outperform” rating on shares of PENN Entertainment in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PENN Entertainment in a research note on Wednesday. JMP Securities raised their target price on PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, August 8th. Finally, Wall Street Zen downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.56.

PENN Entertainment Stock Up 2.9%

NASDAQ PENN traded up $0.42 during trading on Friday, reaching $15.07. 612,947 shares of the company’s stock were exchanged, compared to its average volume of 4,063,588. PENN Entertainment has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The firm has a market capitalization of $2.20 billion, a PE ratio of -27.05 and a beta of 1.53. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39. The company’s fifty day simple moving average is $18.33 and its 200-day simple moving average is $17.47.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. PENN Entertainment’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts predict that PENN Entertainment will post -1.61 EPS for the current year.

Institutional Investors Weigh In On PENN Entertainment

Several large investors have recently modified their holdings of the stock. Hill Path Capital LP bought a new stake in PENN Entertainment during the second quarter worth about $62,595,000. Arrowstreet Capital Limited Partnership bought a new position in PENN Entertainment in the 2nd quarter valued at $40,214,000. Norges Bank acquired a new position in PENN Entertainment in the second quarter worth $39,737,000. Invesco Ltd. increased its stake in shares of PENN Entertainment by 54.6% in the first quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock valued at $97,905,000 after buying an additional 2,120,740 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new position in shares of PENN Entertainment in the third quarter valued at about $40,537,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.