PENN Entertainment (NASDAQ:PENN) Price Target Raised to $26.00

PENN Entertainment (NASDAQ:PENN) had its price objective raised by Citizens Jmp from $24.00 to $26.00 in a research note published on Thursday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Truist Financial increased their price objective on shares of PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, June 26th. Susquehanna lifted their target price on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, July 1st. Zacks Research upgraded PENN Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Stifel Nicolaus increased their price target on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Finally, Jefferies Financial Group restated a “hold” rating on shares of PENN Entertainment in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.62.

PENN Entertainment Price Performance

PENN stock opened at $20.57 on Thursday. PENN Entertainment has a one year low of $11.65 and a one year high of $22.36. The company’s fifty day moving average price is $19.67 and its 200-day moving average price is $16.33. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $2.75 billion, a PE ratio of -3.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.42.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. PENN Entertainment’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $0.68 earnings per share. On average, equities analysts anticipate that PENN Entertainment will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new stake in shares of PENN Entertainment during the 4th quarter valued at about $36,000. IFP Advisors Inc grew its position in PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after acquiring an additional 1,196 shares in the last quarter. Triumph Capital Management purchased a new position in PENN Entertainment in the third quarter worth about $54,000. Modus Advisors LLC bought a new stake in PENN Entertainment during the fourth quarter worth approximately $47,000. Finally, Hantz Financial Services Inc. increased its stake in PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after acquiring an additional 2,954 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.