PENN Entertainment, Inc. (NASDAQ:PENN) Receives $23.53 Average Target Price from Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has received an average rating of “Moderate Buy” from the twenty research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $23.5294.

A number of analysts have recently commented on PENN shares. Morgan Stanley reiterated an “underperform” rating on shares of PENN Entertainment in a research note on Wednesday, August 12th. Barclays increased their price objective on shares of PENN Entertainment from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Citizens Jmp raised their target price on shares of PENN Entertainment from $24.00 to $26.00 and gave the stock a “market outperform” rating in a report on Thursday, July 16th. Wells Fargo & Company cut their target price on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus boosted their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 12th.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently bought and sold shares of PENN. Integrated Wealth Concepts LLC bought a new position in PENN Entertainment in the 2nd quarter worth $275,000. Nykredit A S bought a new stake in PENN Entertainment during the second quarter valued at about $25,000. Corient Private Wealth LP increased its position in PENN Entertainment by 81.8% in the second quarter. Corient Private Wealth LP now owns 59,891 shares of the company’s stock worth $1,279,000 after buying an additional 26,950 shares in the last quarter. HighTower Advisors LLC increased its position in PENN Entertainment by 12.9% in the second quarter. HighTower Advisors LLC now owns 21,535 shares of the company’s stock worth $460,000 after buying an additional 2,461 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of PENN Entertainment in the second quarter worth about $543,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Down 1.4%

Shares of NASDAQ:PENN opened at $17.74 on Friday. The company has a market cap of $2.38 billion, a P/E ratio of -2.79, a PEG ratio of 0.47 and a beta of 1.38. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.89 and a quick ratio of 0.89. PENN Entertainment has a 1 year low of $11.65 and a 1 year high of $22.36. The stock’s fifty day moving average price is $19.11 and its 200-day moving average price is $17.90.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the company earned ($0.12) EPS. PENN Entertainment’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts expect that PENN Entertainment will post 1.19 earnings per share for the current year.

PENN Entertainment Company Profile

PENN Entertainment, Inc is an omnichannel provider of gaming, sports betting and entertainment services. The company operates casinos, racetracks and gaming properties offering slot machines, table games, poker, sports wagering, dining, lodging and live entertainment. Its portfolio also includes retail sportsbooks and online gaming platforms.

PENN serves customers primarily across the United States and Canada through its land-based properties and digital operations. Its online offerings have included sports betting, iCasino gaming and related media and technology products, supported by customer loyalty programs and theScore, a digital sports media and betting brand acquired by PENN in 2021.

The company was formerly known as Penn National Gaming and adopted the PENN Entertainment name in 2022 to reflect its broader entertainment and digital strategy.