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

PENN Entertainment, Inc. (NASDAQ:PENN) has earned an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.7778.

PENN has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of PENN Entertainment from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a report on Wednesday, June 24th. Truist Financial upped their target price on shares of PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Susquehanna increased their price target on PENN Entertainment from $24.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, July 1st. Finally, Morgan Stanley raised their price target 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.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in shares of PENN Entertainment by 47.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 180,310 shares of the company’s stock worth $3,851,000 after buying an additional 58,174 shares during the period. GAMMA Investing LLC raised its position in shares of PENN Entertainment by 19.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $118,000 after acquiring an additional 895 shares during the period. Glenmede Trust Co. NA bought a new position in PENN Entertainment during the 1st quarter worth approximately $176,000. Bank of America Corp DE boosted its stake in PENN Entertainment by 57.9% during the 1st quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock worth $65,400,000 after acquiring an additional 1,595,502 shares during the last quarter. Finally, Seven Six Capital Management LLC grew its holdings in PENN Entertainment by 61.1% during the first quarter. Seven Six Capital Management LLC now owns 258,700 shares of the company’s stock valued at $3,888,000 after purchasing an additional 98,100 shares during the period. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $20.48 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. PENN Entertainment has a 1 year low of $11.65 and a 1 year high of $22.36. The company has a market cap of $2.74 billion, a PE ratio of -3.05, a PEG ratio of 0.38 and a beta of 1.42. The company’s 50-day moving average is $20.17 and its two-hundred day moving average is $16.54.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. Equities analysts anticipate that PENN Entertainment will post 1.39 earnings per share for the current year.

PENN Entertainment Company Profile

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.