PENN Entertainment (PENN) Set to Announce Earnings on Thursday

PENN Entertainment (NASDAQ:PENN) is set to announce its earnings results before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.25) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. On average, analysts expect PENN Entertainment to post $-1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PENN Entertainment Stock Down 3.8 %

PENN opened at $18.34 on Wednesday. The business has a 50 day simple moving average of $18.94 and a 200-day simple moving average of $18.29. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $27.20. The stock has a market capitalization of $2.80 billion, a P/E ratio of -2.26 and a beta of 2.09. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03.

Insiders Place Their Bets

In other PENN Entertainment news, Director Anuj Dhanda purchased 15,000 shares of PENN Entertainment stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the transaction, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director David A. Handler bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the transaction, the director now directly owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anuj Dhanda bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the acquisition, the director now owns 31,523 shares in the company, valued at approximately $580,023.20. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 79,200 shares of company stock worth $1,450,548 over the last three months. 2.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Barclays dropped their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Macquarie reiterated an “outperform” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Mizuho lowered their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PENN Entertainment presently has an average rating of “Hold” and an average target price of $22.89.

About PENN Entertainment

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.