Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) Target Price at $23.53

PENN Entertainment, Inc. (NASDAQ:PENN) has been given a consensus recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $23.5294.

PENN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on PENN Entertainment from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley reissued an “underperform” rating on shares of PENN Entertainment in a research note on Wednesday, August 12th. Capital One Financial upgraded PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a report on Thursday, July 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Wednesday, June 24th. Finally, Citizens Jmp lifted their price target on PENN Entertainment from $24.00 to $26.00 and gave the company a “market outperform” rating in a report on Thursday, July 16th.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Nykredit A S acquired a new position in shares of PENN Entertainment during the second quarter worth approximately $25,000. Quarry LP bought a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $36,000. IFP Advisors Inc increased its holdings in shares of PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after purchasing an additional 1,196 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $47,000. Finally, Triumph Capital Management bought a new position in PENN Entertainment in the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $18.65 on Wednesday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -2.93, a P/E/G ratio of 0.48 and a beta of 1.43. The firm’s 50-day moving average price is $20.48 and its two-hundred day moving average price is $17.35. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79. PENN Entertainment has a 1-year low of $11.65 and a 1-year high of $22.36.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating 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 negative net margin of 12.66% and a positive return on equity of 2.93%. PENN Entertainment’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) earnings per share. On average, equities analysts predict that PENN Entertainment will post 1.19 earnings per share for the current fiscal 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.