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

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus recommendation of “Hold” by the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.6667.

A number of equities analysts have recently weighed in on PENN shares. Morgan Stanley dropped their target price on PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 16th. Citigroup increased their target price on shares of PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PENN Entertainment from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Susquehanna dropped their price target on shares of PENN Entertainment from $20.00 to $17.00 and set a “positive” rating on the stock in a research note on Wednesday, February 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $17.00 price objective on shares of PENN Entertainment in a report on Wednesday, December 24th.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $13.67 on Friday. PENN Entertainment has a 12 month low of $11.65 and a 12 month high of $20.60. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 3.92. The stock has a market cap of $1.83 billion, a PE ratio of -2.27, a price-to-earnings-growth ratio of 0.44 and a beta of 1.33. The business has a fifty day simple moving average of $13.72 and a 200-day simple moving average of $15.44.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.30. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. PENN Entertainment had a negative return on equity of 1.94% and a negative net margin of 12.11%.PENN Entertainment’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.44) earnings per share. On average, sell-side analysts anticipate that PENN Entertainment will post -1.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PENN. Quarry LP purchased a new stake in shares of PENN Entertainment during the 4th quarter worth about $36,000. IFP Advisors Inc increased its holdings in PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares during the last quarter. Triumph Capital Management acquired a new position in PENN Entertainment in the third quarter worth approximately $54,000. Cloud Capital Management LLC bought a new position in PENN Entertainment during the third quarter valued at approximately $54,000. Finally, GAMMA Investing LLC lifted its stake in PENN Entertainment by 22.4% in the third quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after acquiring an additional 556 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

About PENN Entertainment

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.