PENN Entertainment, Inc. (PENN) – What Are Analysts Saying About This Stock?

PENN Entertainment, Inc. (NASDAQ:PENN – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.00.

Several equities research analysts have recently issued reports on PENN shares. Zacks Research raised shares of PENN Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday. Citigroup restated a “market outperform” rating on shares of PENN Entertainment in a research report on Tuesday. Jefferies Financial Group restated a “hold” rating and issued a $22.00 price target on shares of PENN Entertainment in a research note on Friday, August 7th. The Goldman Sachs Group set a $23.00 price target on PENN Entertainment in a research note on Tuesday. Finally, Benchmark upped their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 7th.

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PENN Entertainment Stock Performance

PENN opened at $14.52 on Thursday. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a fifty day moving average price of $16.99 and a 200 day moving average price of $18.05. PENN Entertainment has a 1 year low of $11.65 and a 1 year high of $22.36. The stock has a market cap of $1.95 billion, a P/E ratio of -2.28, a P/E/G ratio of 0.39 and a beta of 1.39.

PENN Entertainment (NASDAQ:PENN – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned ($0.12) earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that PENN Entertainment will post 1.20 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of PENN Entertainment in the second quarter worth approximately $410,579,000. Bank of America Corp DE purchased a new stake in shares of PENN Entertainment during the second quarter worth approximately $108,919,000. Bamco Inc. NY purchased a new stake in shares of PENN Entertainment during the second quarter worth approximately $58,624,000. Freestone Grove Partners LP acquired a new position in PENN Entertainment in the 2nd quarter valued at $21,532,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in PENN Entertainment in the 2nd quarter valued at $21,460,000. 91.69% of the stock is owned by institutional investors and hedge funds.

About PENN Entertainment

(Get Free Report)

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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