PENN Entertainment, Inc. (NASDAQ:PENN) Receives $19.67 Consensus Target Price from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have earned a consensus rating of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.3571.

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday. Needham & Company LLC restated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 7th. Citigroup boosted their price target on PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday. Jefferies Financial Group restated a “hold” rating and issued a $17.00 price objective on shares of PENN Entertainment in a report on Wednesday, December 24th. Finally, Morgan Stanley dropped their target price on shares of PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, January 16th.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $14.93 on Wednesday. The stock has a market capitalization of $1.99 billion, a P/E ratio of -2.48, a P/E/G ratio of 0.42 and a beta of 1.33. The company’s fifty day moving average price is $13.79 and its 200 day moving average price is $15.88. The company has a debt-to-equity ratio of 3.92, a quick ratio of 0.79 and a current ratio of 0.79. PENN Entertainment has a 1 year low of $11.65 and a 1 year high of $20.60.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.30. PENN Entertainment had a negative net margin of 12.11% and a negative return on equity of 1.94%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted ($0.44) earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PENN. GAMMA Investing LLC boosted its holdings in shares of PENN Entertainment by 22.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock worth $59,000 after purchasing an additional 556 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in PENN Entertainment by 1.1% during the second quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock worth $1,245,000 after buying an additional 745 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in PENN Entertainment by 33.7% during the third quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after buying an additional 825 shares during the last quarter. Keybank National Association OH grew its holdings in PENN Entertainment by 6.3% in the 2nd quarter. Keybank National Association OH now owns 14,655 shares of the company’s stock valued at $262,000 after buying an additional 870 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of PENN Entertainment by 3.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock worth $394,000 after acquiring an additional 922 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

About PENN Entertainment

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.