JMP Securities Reiterates “Market Perform” Rating for PENN Entertainment (NASDAQ:PENN)

PENN Entertainment (NASDAQ:PENN)‘s stock had its “market perform” rating restated by equities research analysts at JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports.

PENN has been the subject of several other research reports. Macquarie lowered their price target on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Benchmark began coverage on shares of PENN Entertainment in a report on Tuesday, April 16th. They set a “hold” rating for the company. Mizuho began coverage on shares of PENN Entertainment in a report on Tuesday, March 26th. They set a “buy” rating and a $29.00 price objective for the company. Morgan Stanley boosted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Stifel Nicolaus decreased their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

PENN Entertainment Trading Up 0.5 %

Shares of NASDAQ:PENN traded up $0.09 during trading on Tuesday, hitting $17.02. 1,773,060 shares of the company’s stock were exchanged, compared to its average volume of 5,556,156. PENN Entertainment has a 1-year low of $15.88 and a 1-year high of $31.63. The firm has a 50-day moving average price of $17.85 and a two-hundred day moving average price of $21.44. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The firm has a market cap of $2.59 billion, a P/E ratio of -4.77 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. Equities analysts predict that PENN Entertainment will post -0.86 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Institutional investors have recently made changes to their positions in the business. Huntington National Bank lifted its position in shares of PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of PENN Entertainment in the fourth quarter worth $32,000. Lindbrook Capital LLC lifted its position in shares of PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of PENN Entertainment in the fourth quarter worth $40,000. Finally, Signaturefd LLC raised its position in PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after acquiring an additional 727 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

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.