PENN Entertainment (NASDAQ:PENN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PENN Entertainment (NASDAQ:PENN) from a strong sell rating to a hold rating in a report released on Monday morning.

A number of other equities analysts have also weighed in on PENN. Stifel Nicolaus upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $21.00 in a research report on Friday, November 7th. Mizuho set a $19.00 target price on shares of PENN Entertainment in a report on Monday, February 2nd. Needham & Company LLC reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 7th. Jefferies Financial Group reiterated a “hold” rating and set a $17.00 price target on shares of PENN Entertainment in a research note on Wednesday, December 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of PENN Entertainment from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.36.

PENN Entertainment Price Performance

PENN stock opened at $15.27 on Monday. The business has a 50 day moving average price of $13.80 and a 200 day moving average price of $15.87. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -2.54, a PEG ratio of 0.45 and a beta of 1.33. PENN Entertainment has a fifty-two week low of $11.65 and a fifty-two week high of $20.60. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 3.92.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.30. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. PENN Entertainment had a negative net margin of 12.11% and a negative return on equity of 1.94%. PENN Entertainment’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.44) earnings per share. Equities research analysts anticipate that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently modified their holdings of PENN. GAMMA Investing LLC grew its stake in PENN Entertainment by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock worth $59,000 after acquiring an additional 556 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of PENN Entertainment by 1.1% during the second quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock worth $1,245,000 after purchasing an additional 745 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of PENN Entertainment by 33.7% in the third quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock valued at $65,000 after purchasing an additional 825 shares during the period. Keybank National Association OH increased its stake in PENN Entertainment by 6.3% in the second quarter. Keybank National Association OH now owns 14,655 shares of the company’s stock valued at $262,000 after purchasing an additional 870 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in PENN Entertainment by 3.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock worth $394,000 after buying an additional 922 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.