PENN Entertainment (NASDAQ:PENN – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.
PENN has been the topic of a number of other research reports. Wells Fargo & Company lowered their price target on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 14th. The Goldman Sachs Group set a $23.00 target price on shares of PENN Entertainment in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft upgraded PENN Entertainment from a “hold” rating to a “buy” rating and upped their price target for the stock from $23.00 to $25.00 in a research note on Tuesday, October 6th. Finally, Bank of America upped their price target on shares of PENN Entertainment from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.
Read Our Latest Stock Analysis on PENN
PENN Entertainment Price Performance
PENN Entertainment (NASDAQ:PENN – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.07. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) EPS. Equities research analysts anticipate that PENN Entertainment will post 1.20 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC raised its stake in shares of PENN Entertainment by 11.0% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 11,303 shares of the company’s stock worth $178,000 after buying an additional 1,117 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of PENN Entertainment by 29.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock valued at $51,000 after acquiring an additional 803 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in PENN Entertainment during the 2nd quarter worth about $275,000. Nykredit A S acquired a new position in PENN Entertainment in the 2nd quarter valued at approximately $25,000. Finally, Corient Private Wealth LP increased its stake in shares of PENN Entertainment by 81.8% in the second quarter. Corient Private Wealth LP now owns 59,891 shares of the company’s stock worth $1,279,000 after acquiring an additional 26,950 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.
PENN Entertainment Company Profile
PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and hotels, offering casino gaming, sports wagering, dining, live entertainment and other hospitality services. Its property portfolio includes regional gaming destinations serving customers across the United States.
PENN also develops and operates digital gaming products, including online sports betting and iCasino services. Its digital operations have included the ESPN BET sportsbook, developed through a strategic relationship with ESPN, as well as theScore Bet, supported by the company’s acquisition of Canadian digital media and sports betting business theScore.
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