Benchmark Increases PENN Entertainment (NASDAQ:PENN) Price Target to $22.00

PENN Entertainment (NASDAQ:PENN) had its target price lifted by investment analysts at Benchmark from $21.00 to $22.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 8.75% from the stock’s current price.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on PENN Entertainment from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Mizuho set a $28.00 price target on PENN Entertainment in a report on Friday. Truist Financial increased their price target on PENN Entertainment from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Susquehanna raised their target price on shares of PENN Entertainment from $24.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, July 1st. Finally, Capital One Financial upgraded shares of PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.28.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock traded up $0.10 during trading hours on Friday, reaching $20.23. The company’s stock had a trading volume of 1,160,116 shares, compared to its average volume of 3,976,823. The stock has a market cap of $2.71 billion, a P/E ratio of -3.01, a P/E/G ratio of 0.37 and a beta of 1.43. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50 day moving average price of $20.75 and a 200-day moving average price of $16.95. PENN Entertainment has a one year low of $11.65 and a one year high of $22.36.

PENN Entertainment (NASDAQ:PENN) last posted 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 negative net margin of 13.55% and a positive return on equity of 0.44%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the firm earned ($0.12) earnings per share. PENN Entertainment’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that PENN Entertainment will post 1.39 EPS for the current year.

Institutional Trading of PENN Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Treasurer of the State of North Carolina lifted its holdings in PENN Entertainment by 1.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock valued at $1,245,000 after purchasing an additional 745 shares during the last quarter. GAMMA Investing LLC boosted its holdings in PENN Entertainment by 19.4% in the second quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $118,000 after acquiring an additional 895 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in PENN Entertainment by 3.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock worth $394,000 after purchasing an additional 922 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after purchasing an additional 1,196 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in PENN Entertainment by 8.1% during the second quarter. Tidal Investments LLC now owns 19,689 shares of the company’s stock worth $352,000 after buying an additional 1,483 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting PENN Entertainment

Here are the key news stories impacting PENN Entertainment this week:

• Positive Sentiment: Q2 earnings beat expectations: PENN reported adjusted earnings of $0.44 per share, above analyst estimates ranging from $0.35 to $0.37 and well ahead of the year-ago result. Revenue reached $1.86 billion, matching estimates and increasing 5.2% year over year. PENN Entertainment Tops Q2 Earnings and Revenue Estimates
• Positive Sentiment: Improved operating outlook: Management is targeting more than 20% growth in 2026 adjusted EBITDAR and raised its retail revenue guidance to $5.87 billion. The forecast suggests broad-based casino demand and continued improvement in profitability, supporting the stock’s upward reaction. PENN Targets 2026 Adjusted EBITDAR Growth
• Positive Sentiment: Positive analyst momentum: Zacks added PENN to its Rank #1, or “Strong Buy,” growth-stock list, reinforcing the favorable interpretation of the earnings beat and growth outlook. Best Growth Stocks to Buy
• Neutral Sentiment: Prediction-market uncertainty: PENN is maintaining its strategy despite expecting an “arms race” among prediction-market operators this fall. The competitive environment could affect customer acquisition costs and the company’s digital gaming ambitions. PENN Holds Course Despite Prediction Market Competition
• Negative Sentiment: Balance-sheet risks remain: Despite the quarterly improvement, PENN continues to post a negative net margin and carries substantial debt, with a debt-to-equity ratio of approximately 3.94. These risks may limit the stock’s upside if growth or digital profitability falls short.

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.