PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Rating of “Moderate Buy” by Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.44.

Several brokerages have recently commented on PENN. Jefferies Financial Group boosted their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Morgan Stanley cut their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. Mizuho decreased their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, November 8th.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $20.02 on Tuesday. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $24.57. The stock has a market cap of $3.06 billion, a PE ratio of -5.64, a P/E/G ratio of 1.27 and a beta of 2.08. The firm has a 50-day moving average of $19.93 and a 200-day moving average of $19.38. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

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 analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that PENN Entertainment will post -1.54 EPS for the current year.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. M&T Bank Corp raised its position in shares of PENN Entertainment by 4.2% in the 3rd quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after acquiring an additional 497 shares in the last quarter. Westside Investment Management Inc. increased its holdings in PENN Entertainment by 3.2% in the fourth quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock worth $393,000 after purchasing an additional 620 shares in the last quarter. XTX Topco Ltd lifted its stake in PENN Entertainment by 2.8% in the third quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock valued at $441,000 after buying an additional 641 shares during the period. Nisa Investment Advisors LLC lifted its stake in PENN Entertainment by 4.0% in the third quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock valued at $328,000 after buying an additional 665 shares during the period. Finally, New World Advisors LLC grew its position in shares of PENN Entertainment by 7.5% during the 3rd quarter. New World Advisors LLC now owns 15,800 shares of the company’s stock worth $298,000 after buying an additional 1,100 shares during the period. 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.