PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Rating of “Hold” from Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has been given an average recommendation of “Hold” by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.2857.

Several research analysts recently weighed in on PENN shares. Morgan Stanley increased their price objective on PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Susquehanna lowered their price objective on PENN Entertainment from $20.00 to $17.00 and set a “positive” rating for the company in a research report on Wednesday, February 11th. Stifel Nicolaus increased their price objective on PENN Entertainment from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Wall Street Zen upgraded PENN Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Friday, March 27th.

PENN Entertainment Trading Down 0.1%

Shares of PENN Entertainment stock opened at $19.63 on Friday. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -2.92, a PEG ratio of 0.64 and a beta of 1.44. PENN Entertainment has a fifty-two week low of $11.65 and a fifty-two week high of $20.60. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average of $16.46 and a 200 day moving average of $14.88.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, research analysts predict that PENN Entertainment will post 1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in shares of PENN Entertainment during the fourth quarter worth $36,000. IFP Advisors Inc boosted its position in shares of PENN Entertainment by 76.2% during 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 period. Modus Advisors LLC purchased a new position in shares of PENN Entertainment during the fourth quarter worth $47,000. Triumph Capital Management purchased a new position in shares of PENN Entertainment during the third quarter worth $54,000. Finally, Hantz Financial Services Inc. boosted its position in shares of PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after buying an additional 2,954 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.