PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.5294.

Several research analysts recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $22.00 target price on shares of PENN Entertainment in a research note on Friday, August 7th. Susquehanna lifted their price target on shares of PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, July 1st. Bank of America boosted their price objective on shares of PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Barclays raised their target price on shares of PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Citizens Jmp lifted their target price on shares of PENN Entertainment from $24.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 16th.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $17.46 on Friday. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average of $19.00 and a two-hundred day moving average of $17.93. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -2.75, a PEG ratio of 0.46 and a beta of 1.38. PENN Entertainment has a fifty-two week low of $11.65 and a fifty-two week high of $22.36.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.12) earnings per share. On average, analysts anticipate that PENN Entertainment will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Nykredit A S purchased a new stake in shares of PENN Entertainment during the 2nd quarter valued at $25,000. IFP Advisors Inc raised its position in shares of PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares during the period. Modus Advisors LLC acquired a new position in PENN Entertainment in the fourth quarter valued at $47,000. Hantz Financial Services Inc. boosted its holdings in PENN Entertainment by 385.1% in the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in PENN Entertainment during the second quarter valued at about $66,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About PENN Entertainment

PENN Entertainment, Inc is an omnichannel provider of gaming, sports betting and entertainment services. The company operates casinos, racetracks and gaming properties offering slot machines, table games, poker, sports wagering, dining, lodging and live entertainment. Its portfolio also includes retail sportsbooks and online gaming platforms.

PENN serves customers primarily across the United States and Canada through its land-based properties and digital operations. Its online offerings have included sports betting, iCasino gaming and related media and technology products, supported by customer loyalty programs and theScore, a digital sports media and betting brand acquired by PENN in 2021.

The company was formerly known as Penn National Gaming and adopted the PENN Entertainment name in 2022 to reflect its broader entertainment and digital strategy.