Citizens Jmp Issues Pessimistic Forecast for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its price objective dropped by Citizens Jmp from $25.00 to $24.00 in a report issued on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price target suggests a potential upside of 59.24% from the company’s previous close.

Several other equities analysts also recently commented on the company. Stifel Nicolaus upgraded PENN Entertainment from a “hold” rating to a “buy” rating and increased their target price for the company from $19.00 to $21.00 in a research report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of PENN Entertainment in a report on Wednesday. Citigroup reiterated an “outperform” rating on shares of PENN Entertainment in a research report on Friday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a report on Friday. Finally, Barclays dropped their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Ten analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, PENN Entertainment has an average rating of “Hold” and an average price target of $22.56.

PENN Entertainment Price Performance

Shares of PENN stock traded up $0.42 during trading hours on Friday, reaching $15.07. The company’s stock had a trading volume of 612,947 shares, compared to its average volume of 4,063,588. PENN Entertainment has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The firm’s 50 day simple moving average is $18.33 and its 200-day simple moving average is $17.47. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -27.05 and a beta of 1.53.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted ($0.24) EPS. PENN Entertainment’s quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts forecast that PENN Entertainment will post -1.61 earnings per share for the current year.

Institutional Trading of PENN Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC boosted its position in PENN Entertainment by 152.2% in the second quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock worth $25,000 after purchasing an additional 843 shares during the last quarter. Quarry LP purchased a new stake in shares of PENN Entertainment during the 1st quarter valued at $30,000. GAMMA Investing LLC raised its stake in shares of PENN Entertainment by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock worth $43,000 after purchasing an additional 736 shares during the period. State of Wyoming bought a new position in PENN Entertainment during the first quarter valued at about $46,000. Finally, Cloud Capital Management LLC bought a new stake in PENN Entertainment in the third quarter worth about $54,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.