PENN Entertainment (NASDAQ:PENN) Upgraded at Capital One Financial

Capital One Financial upgraded shares of PENN Entertainment (NASDAQ:PENN) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. Capital One Financial currently has $26.00 price target on the stock.

A number of other research firms also recently issued reports on PENN. Mizuho raised their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 24th. Zacks Research raised shares of PENN Entertainment from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Truist Financial lifted their target price on PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. upped their target price on PENN Entertainment from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.78.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $20.48 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -3.05, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. PENN Entertainment has a twelve month low of $11.65 and a twelve month high of $22.36. The business has a 50 day simple moving average of $20.17 and a 200-day simple moving average of $16.54.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.06. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. As a group, equities research analysts expect that PENN Entertainment will post 1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $36,000. IFP Advisors Inc boosted its position in shares of PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares during the period. Triumph Capital Management acquired a new position in shares of PENN Entertainment during the third quarter worth approximately $54,000. Modus Advisors LLC bought a new position in PENN Entertainment in the 4th quarter worth approximately $47,000. Finally, Hantz Financial Services Inc. grew its holdings in PENN Entertainment by 385.1% in the 4th quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after buying an additional 2,954 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.