PENN Entertainment (NASDAQ:PENN) Receives New Coverage from Analysts at Benchmark

Benchmark initiated coverage on shares of PENN Entertainment (NASDAQ:PENN) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm issued a hold rating on the stock.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus lowered their price objective on PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a research report on Friday, February 16th. Macquarie decreased their target price on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a research report on Friday, February 16th. Truist Financial dropped their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating for the company in a research report on Friday, February 16th. Mizuho began coverage on PENN Entertainment in a research note on Tuesday, March 26th. They issued a buy rating and a $29.00 price objective on the stock. Finally, StockNews.com downgraded PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PENN Entertainment currently has a consensus rating of Hold and a consensus target price of $31.38.

PENN Entertainment Trading Up 1.6 %

PENN Entertainment stock opened at $16.54 on Tuesday. The business’s 50-day simple moving average is $18.36 and its 200-day simple moving average is $21.58. PENN Entertainment has a 52 week low of $15.88 and a 52 week high of $31.63. The firm has a market capitalization of $2.52 billion, a PE ratio of -4.54 and a beta of 2.06. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. Equities research analysts forecast that PENN Entertainment will post -0.86 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in PENN Entertainment by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock valued at $383,273,000 after buying an additional 97,945 shares during the period. Earnest Partners LLC boosted its position in shares of PENN Entertainment by 11.1% in the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock worth $62,380,000 after purchasing an additional 271,254 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PENN Entertainment by 2.2% during the first quarter. Geode Capital Management LLC now owns 2,321,981 shares of the company’s stock worth $68,870,000 after purchasing an additional 50,999 shares during the period. Sei Investments Co. lifted its stake in PENN Entertainment by 52.8% in the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after buying an additional 725,221 shares during the period. Finally, Norges Bank acquired a new position in shares of PENN Entertainment during the 4th quarter worth about $59,504,000. 91.69% of the stock is owned by institutional investors.

About PENN Entertainment

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.