Jefferies Financial Group Raises PENN Entertainment (NASDAQ:PENN) Price Target to $22.00

PENN Entertainment (NASDAQ:PENN) had its price objective lifted by equities research analysts at Jefferies Financial Group from $21.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 14.35% from the company’s current price.

A number of other research firms have also recently weighed in on PENN. Susquehanna dropped their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. Mizuho lowered their price objective 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. Truist Financial cut their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Bank of America began coverage on PENN Entertainment in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.44.

PENN Entertainment Trading Down 2.9 %

Shares of PENN Entertainment stock opened at $19.24 on Friday. The company has a fifty day simple moving average of $20.01 and a 200-day simple moving average of $19.32. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -5.42 and a beta of 2.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $25.53.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that PENN Entertainment will post -1.55 EPS for the current fiscal year.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently modified their holdings of PENN. Tidal Investments LLC increased its stake in PENN Entertainment by 35.2% during the 3rd quarter. Tidal Investments LLC now owns 14,888 shares of the company’s stock worth $281,000 after purchasing an additional 3,879 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in PENN Entertainment in the 3rd quarter valued at about $716,000. Sender Co & Partners Inc. bought a new stake in PENN Entertainment in the 3rd quarter valued at $321,000. M&T Bank Corp lifted its position in PENN Entertainment by 4.2% during the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after acquiring an additional 497 shares during the last quarter. Finally, MML Investors Services LLC increased its position in PENN Entertainment by 27.6% during the 3rd quarter. MML Investors Services LLC now owns 49,613 shares of the company’s stock worth $936,000 after buying an additional 10,740 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

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.