Capital One Financial Upgrades PENN Entertainment (NASDAQ:PENN) to “Overweight”

PENN Entertainment (NASDAQ:PENN) was upgraded by investment analysts at Capital One Financial from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a $26.00 target price on the stock. Capital One Financial‘s price target would suggest a potential upside of 24.22% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price target on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Thursday, July 2nd. The Goldman Sachs Group assumed coverage on PENN Entertainment in a report on Friday, June 26th. They issued a “buy” rating and a $26.00 price objective for the company. Susquehanna upped their target price on shares of 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 shares of PENN Entertainment from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.78.

PENN Entertainment Price Performance

Shares of PENN opened at $20.93 on Thursday. The company has a market capitalization of $2.80 billion, a P/E ratio of -3.11, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. The firm has a 50 day moving average of $19.99 and a 200 day moving average of $16.48. PENN Entertainment has a twelve month low of $11.65 and a twelve month high of $22.36.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data 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 positive return on equity of 0.44% and a negative net margin of 13.55%.The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that PENN Entertainment will post 1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in PENN Entertainment during the fourth quarter valued at approximately $36,000. IFP Advisors Inc raised its position in PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after acquiring an additional 1,196 shares during the period. Triumph Capital Management purchased a new position in shares of PENN Entertainment during the 3rd quarter worth $54,000. Modus Advisors LLC bought a new stake in shares of PENN Entertainment during the 4th quarter valued at $47,000. Finally, Hantz Financial Services Inc. grew its position in shares of PENN Entertainment by 385.1% during the 4th quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 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.