PENN Entertainment, Inc. (NASDAQ:PENN) Receives $19.67 Consensus PT from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned an average recommendation of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $19.6667.

A number of analysts have weighed in on PENN shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price objective on shares of PENN Entertainment in a research report on Wednesday, December 24th. Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley cut their price target on PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 16th. Canaccord Genuity Group decreased their price target on PENN Entertainment from $26.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Finally, Wells Fargo & Company upgraded shares of PENN Entertainment from a “strong sell” rating to an “equal weight” rating and lifted their price objective for the company from $15.00 to $16.00 in a research report on Friday, February 27th.

PENN Entertainment Trading Up 0.2%

NASDAQ PENN opened at $14.47 on Friday. The firm’s fifty day moving average is $13.74 and its two-hundred day moving average is $15.33. PENN Entertainment has a one year low of $11.65 and a one year high of $20.60. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $1.93 billion, a PE ratio of -2.40, a P/E/G ratio of 0.47 and a beta of 1.33.

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

Institutional Trading of PENN Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in PENN. Caxton Associates LLP purchased a new position in PENN Entertainment during the first quarter worth about $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in PENN Entertainment by 30.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 344,565 shares of the company’s stock valued at $5,620,000 after purchasing an additional 79,978 shares in the last quarter. PNC Financial Services Group Inc. increased its position in PENN Entertainment by 20.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,358 shares of the company’s stock worth $149,000 after purchasing an additional 1,446 shares during the period. Police & Firemen s Retirement System of New Jersey increased its position in PENN Entertainment by 3.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 57,972 shares of the company’s stock worth $1,036,000 after purchasing an additional 1,839 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of PENN Entertainment by 4.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,355 shares of the company’s stock worth $668,000 after buying an additional 1,549 shares in the last quarter. 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.