PENN Entertainment (NASDAQ:PENN) Given New $16.00 Price Target at Citigroup

PENN Entertainment (NASDAQ:PENN) had its price objective hoisted by stock analysts at Citigroup from $15.00 to $16.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 6.77% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group decreased their price objective on shares of PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Morgan Stanley reduced their target price on PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 16th. Wells Fargo & Company raised PENN Entertainment from a “strong sell” rating to an “equal weight” rating and lifted their price target for the stock from $15.00 to $16.00 in a research note on Friday. Wall Street Zen upgraded PENN Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on PENN Entertainment from $16.00 to $17.00 and gave the company a “hold” rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, PENN Entertainment has a consensus rating of “Hold” and an average target price of $19.36.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock traded down $0.66 during trading hours on Monday, reaching $14.99. The company had a trading volume of 2,662,158 shares, compared to its average volume of 4,696,007. PENN Entertainment has a one year low of $11.65 and a one year high of $22.13. The business has a fifty day simple moving average of $13.78 and a 200 day simple moving average of $15.92. The company has a debt-to-equity ratio of 3.92, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $2.00 billion, a PE ratio of -2.49, a price-to-earnings-growth ratio of 0.48 and a beta of 1.33.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 556 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in 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 valued at $1,245,000 after purchasing an additional 745 shares in the last quarter. Jones Financial Companies Lllp increased its stake in PENN Entertainment by 33.7% during the 3rd 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. Keybank National Association OH raised its holdings in PENN Entertainment by 6.3% in the second quarter. Keybank National Association OH now owns 14,655 shares of the company’s stock worth $262,000 after buying an additional 870 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of PENN Entertainment by 3.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock worth $394,000 after buying an additional 922 shares in the last quarter. 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.