PENN Entertainment (NASDAQ:PENN) Given New $26.00 Price Target at JPMorgan Chase & Co.

PENN Entertainment (NASDAQ:PENN) had its target price raised by JPMorgan Chase & Co. from $23.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently issued reports on PENN. Wells Fargo & Company lowered their price objective on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Morgan Stanley lifted their target price on PENN Entertainment from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Barclays boosted their price objective on PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Stifel Nicolaus lifted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Finally, Mizuho upped their price target on PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $21.12 on Wednesday. PENN Entertainment has a 1 year low of $11.65 and a 1 year high of $22.36. The firm has a market cap of $2.83 billion, a P/E ratio of -3.14, a PEG ratio of 0.64 and a beta of 1.42. The stock has a fifty day moving average price of $19.51 and a two-hundred day moving average price of $16.26. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The company had revenue of $1.78 billion for 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 company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. Research analysts forecast that PENN Entertainment will post 1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PENN. AQR Capital Management LLC raised its holdings in PENN Entertainment by 824.3% in the 4th quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock worth $51,341,000 after acquiring an additional 3,121,051 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in PENN Entertainment by 74.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock worth $75,697,000 after acquiring an additional 1,679,953 shares during the last quarter. Bank of America Corp DE boosted its holdings in PENN Entertainment by 57.9% during the first quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock valued at $65,400,000 after acquiring an additional 1,595,502 shares during the period. Kettle Hill Capital Management LLC boosted its holdings in PENN Entertainment by 129.5% during the fourth quarter. Kettle Hill Capital Management LLC now owns 1,773,390 shares of the company’s stock valued at $26,158,000 after acquiring an additional 1,000,830 shares during the period. Finally, Armistice Capital LLC grew its position in shares of PENN Entertainment by 47.2% in the fourth quarter. Armistice Capital LLC now owns 3,096,000 shares of the company’s stock valued at $45,666,000 after purchasing an additional 992,334 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Key Stories Impacting PENN Entertainment

Here are the key news stories impacting PENN Entertainment this week:

• Positive Sentiment: JPMorgan Chase & Co. raised its price target on PENN Entertainment from $23 to $26 and kept an overweight rating, implying meaningful upside versus the current share price. Benzinga article
• Positive Sentiment: Mizuho increased its price target from $23 to $25 and reiterated an outperform rating, adding to the bullish analyst trend. Benzinga article
• Positive Sentiment: Zacks Research upgraded PENN Entertainment from hold to strong-buy, signaling improving sentiment on the name. Zacks.com article
• Neutral Sentiment: Recent Zacks commentary highlighted PENN as a growth and value stock, but these pieces were more screening-focused than news-driven and are unlikely to move the stock on their own. Zacks growth article
• Negative Sentiment: Wells Fargo trimmed its price target from $24 to $23 and maintained an equal weight rating, reflecting a more cautious view that may temper some of the bullish momentum. Benzinga article

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.