PENN Entertainment (NASDAQ:PENN) Price Target Cut to $18.00 by Analysts at Wells Fargo & Company

PENN Entertainment (NASDAQ:PENN) had its price objective cut by investment analysts at Wells Fargo & Company from $21.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 19.01% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Barclays lowered their price target on PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Friday. Stifel Nicolaus reduced their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Macquarie dropped 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. Finally, Benchmark restated a “hold” rating on shares of PENN Entertainment in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.93.

PENN Entertainment Price Performance

PENN stock traded up $0.12 during midday trading on Friday, reaching $15.13. The stock had a trading volume of 8,572,736 shares, compared to its average volume of 6,675,829. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $29.38. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -2.03 and a beta of 2.06. The company’s fifty day simple moving average is $17.44 and its 200 day simple moving average is $21.16. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.39%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, sell-side analysts predict that PENN Entertainment will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank grew its position in PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at about $32,000. Lindbrook Capital LLC raised its position in shares of PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in PENN Entertainment in the 4th quarter valued at approximately $40,000. Finally, Signaturefd LLC grew its holdings in PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after buying an additional 727 shares during the last quarter. 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.