Jefferies Financial Group Issues Positive Forecast for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its target price raised by Jefferies Financial Group from $21.00 to $22.00 in a research report sent to investors on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

PENN has been the subject of several other reports. Mizuho lowered their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a research note on Tuesday, October 8th. Morgan Stanley dropped their target price on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 22nd. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Finally, Wells Fargo & Company raised their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.44.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $18.76 on Friday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -5.28 and a beta of 2.08. The firm’s 50 day simple moving average is $19.99 and its 200 day simple moving average is $19.32. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $25.53.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $1.21 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PENN Entertainment will post -1.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. M&T Bank Corp lifted its position in shares of PENN Entertainment by 4.2% during the 3rd quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock valued at $235,000 after acquiring an additional 497 shares during the period. XTX Topco Ltd lifted its position in PENN Entertainment by 2.8% during the third quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after purchasing an additional 641 shares during the period. Nisa Investment Advisors LLC grew its stake in PENN Entertainment by 4.0% during the third quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock worth $328,000 after buying an additional 665 shares in the last quarter. United Services Automobile Association increased its holdings in PENN Entertainment by 6.3% in the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after buying an additional 712 shares during the period. Finally, Arizona State Retirement System raised its position in shares of PENN Entertainment by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock valued at $743,000 after buying an additional 944 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Company Profile

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.