PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $21.0625.

Several research firms recently issued reports on PENN. Morgan Stanley lifted their price target on shares of PENN Entertainment from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Citigroup lifted their price target on shares of PENN Entertainment from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Mizuho lifted their price target on shares of PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Benchmark raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Thursday, March 5th. Finally, Stifel Nicolaus lifted their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 12th.

PENN Entertainment Stock Performance

Shares of PENN opened at $22.06 on Tuesday. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50-day moving average of $18.50 and a 200-day moving average of $15.70. The company has a market cap of $2.95 billion, a PE ratio of -3.28, a P/E/G ratio of 0.70 and a beta of 1.45. PENN Entertainment has a one year low of $11.65 and a one year high of $22.36.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $0.68 EPS. On average, equities research analysts predict that PENN Entertainment will post 1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

A number of hedge funds have recently added to or reduced their stakes in PENN. Quarry LP bought a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $36,000. IFP Advisors Inc lifted its holdings in shares of PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after purchasing an additional 1,196 shares in the last quarter. Triumph Capital Management bought a new position in shares of PENN Entertainment in the third quarter valued at approximately $54,000. Modus Advisors LLC bought a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $47,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of PENN Entertainment by 385.1% in the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after purchasing an additional 2,954 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.