Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) Price Target at $20.29

PENN Entertainment, Inc. (NASDAQ:PENN) has received a consensus recommendation of “Hold” from the fifteen analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $20.2857.

PENN has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on shares of PENN Entertainment from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Stifel Nicolaus raised their price target on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Benchmark upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, March 5th. Mizuho increased their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Friday, March 27th.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the company. ING Groep NV acquired a new stake in PENN Entertainment in the 3rd quarter valued at $5,790,000. Strs Ohio raised its holdings in PENN Entertainment by 365.5% during the third quarter. Strs Ohio now owns 252,705 shares of the company’s stock worth $4,867,000 after buying an additional 198,417 shares during the last quarter. Invenomic Capital Management LP lifted its stake in shares of PENN Entertainment by 6.9% in the third quarter. Invenomic Capital Management LP now owns 1,569,939 shares of the company’s stock valued at $30,237,000 after buying an additional 101,028 shares in the last quarter. Hill Path Capital LP grew its holdings in shares of PENN Entertainment by 64.4% during the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock valued at $110,934,000 after buying an additional 2,257,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of PENN Entertainment by 330.0% during the fourth quarter. SG Americas Securities LLC now owns 149,710 shares of the company’s stock valued at $2,208,000 after buying an additional 114,892 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Up 2.3%

Shares of PENN Entertainment stock opened at $16.20 on Monday. The stock’s 50-day moving average is $15.43 and its 200 day moving average is $14.68. PENN Entertainment has a one year low of $11.65 and a one year high of $20.60. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -2.41, a PEG ratio of 0.52 and a beta of 1.43. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 earnings per share. Equities research analysts anticipate that PENN Entertainment will post 1 EPS for the current year.

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.