PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus recommendation of “Moderate Buy” by the eighteen analysts that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.44.

PENN has been the topic of several analyst reports. Truist Financial cut their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Macquarie lifted their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Finally, StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Friday.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its stake in PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock valued at $28,183,000 after acquiring an additional 1,425,274 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of PENN Entertainment during the 4th quarter valued at $27,805,000. Assenagon Asset Management S.A. raised its position in shares of PENN Entertainment by 1,051.0% in the third quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock worth $26,809,000 after buying an additional 1,297,976 shares in the last quarter. Armistice Capital LLC boosted its stake in PENN Entertainment by 91.9% during the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after buying an additional 1,266,023 shares during the period. Finally, Long Focus Capital Management LLC purchased a new position in PENN Entertainment during the second quarter worth about $11,613,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $20.02 on Tuesday. The business has a 50-day simple moving average of $19.93 and a 200 day simple moving average of $19.38. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -5.64, a PEG ratio of 1.27 and a beta of 2.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment has a one year low of $13.50 and a one year high of $24.57.

PENN Entertainment (NASDAQ:PENN) last issued its 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. PENN Entertainment’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts anticipate that PENN Entertainment will post -1.54 earnings per share for the current fiscal year.

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.