Truist Financial Increases PENN Entertainment (NASDAQ:PENN) Price Target to $25.00

PENN Entertainment (NASDAQ:PENN) had its price objective increased by analysts at Truist Financial from $20.00 to $25.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 18.60% from the company’s current price.

A number of other research firms also recently weighed in on PENN. The Goldman Sachs Group began coverage on shares of PENN Entertainment in a research note on Friday. They issued a “buy” rating and a $26.00 price target on the stock. Barclays raised their target price on PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Mizuho boosted their price target on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Stifel Nicolaus increased their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, June 12th. Finally, Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.06.

PENN Entertainment Trading Up 3.4%

NASDAQ PENN opened at $21.08 on Friday. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $18.26 and its two-hundred day moving average price is $15.58. PENN Entertainment has a 12 month low of $11.65 and a 12 month high of $22.36. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -3.14, a price-to-earnings-growth ratio of 0.65 and a beta of 1.44.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data 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. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts predict that PENN Entertainment will post 1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA acquired a new position in PENN Entertainment during the 1st quarter valued at about $176,000. Bank of America Corp DE raised its holdings in PENN Entertainment by 57.9% in the first quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock worth $65,400,000 after purchasing an additional 1,595,502 shares during the period. Seven Six Capital Management LLC boosted its position in shares of PENN Entertainment by 61.1% during the first quarter. Seven Six Capital Management LLC now owns 258,700 shares of the company’s stock worth $3,888,000 after purchasing an additional 98,100 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of PENN Entertainment by 28.3% during the first quarter. California State Teachers Retirement System now owns 166,074 shares of the company’s stock worth $2,496,000 after purchasing an additional 36,637 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of PENN Entertainment by 16.4% in the 1st quarter. Royal Bank of Canada now owns 31,429 shares of the company’s stock valued at $473,000 after buying an additional 4,435 shares during the period. 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.