Deutsche Bank Aktiengesellschaft Has Lowered Expectations for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its price target reduced by equities research analysts at Deutsche Bank Aktiengesellschaft from $19.00 to $17.00 in a research report issued on Friday,MarketScreener reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 12.79% from the stock’s previous close.

A number of other analysts have also recently issued reports on PENN. Wall Street Zen cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Morgan Stanley reiterated a “sell” rating on shares of PENN Entertainment in a research report on Friday, July 11th. Barclays cut their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Stifel Nicolaus raised PENN Entertainment from a “hold” rating to a “buy” rating and upped their price objective for the stock from $19.00 to $21.00 in a report on Friday. Finally, JMP Securities raised their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, August 8th. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.56.

PENN Entertainment Stock Up 2.9%

NASDAQ:PENN traded up $0.42 on Friday, reaching $15.07. 612,947 shares of the stock traded hands, compared to its average volume of 4,063,588. The company’s fifty day simple moving average is $18.33 and its 200 day simple moving average is $17.47. PENN Entertainment has a 12 month low of $13.25 and a 12 month high of $23.08. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -27.05 and a beta of 1.53.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.12). The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) earnings per share. Equities analysts predict that PENN Entertainment will post -1.61 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in PENN Entertainment by 22.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after acquiring an additional 556 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of PENN Entertainment by 1.1% during the 2nd 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 boosted its position in PENN Entertainment by 33.7% during 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 in the last quarter. Parallel Advisors LLC raised its holdings in PENN Entertainment by 152.2% in the second quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock worth $25,000 after purchasing an additional 843 shares in the last quarter. Finally, Keybank National Association OH lifted its position in shares of PENN Entertainment by 6.3% during the second quarter. Keybank National Association OH now owns 14,655 shares of the company’s stock valued at $262,000 after buying an additional 870 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.