PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Recommendation of “Hold” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have earned an average rating of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $20.2857.

Several analysts have recently issued reports on PENN shares. Citigroup increased their price objective on PENN Entertainment from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Mizuho raised their price target on PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Susquehanna cut their price target on PENN Entertainment from $20.00 to $17.00 and set a “positive” rating on the stock in a research note on Wednesday, February 11th. Barclays raised their price target on PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Finally, Wall Street Zen upgraded PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd.

Institutional Trading of PENN Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in PENN Entertainment in the fourth quarter valued at $36,000. IFP Advisors Inc increased 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 purchasing an additional 1,196 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of PENN Entertainment during the fourth quarter worth about $47,000. Triumph Capital Management acquired a new stake in shares of PENN Entertainment during the third quarter worth about $54,000. Finally, Hantz Financial Services Inc. increased its position in shares of 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 purchasing an additional 2,954 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Stock Down 0.1%

Shares of NASDAQ PENN opened at $19.63 on Friday. The stock has a market cap of $2.63 billion, a P/E ratio of -2.92, a PEG ratio of 0.64 and a beta of 1.44. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. PENN Entertainment has a 12-month low of $11.65 and a 12-month high of $20.60. The business’s fifty day simple moving average is $16.46 and its 200-day simple moving average is $14.88.

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, beating the consensus estimate of $0.05 by $0.06. The business 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 company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. As a group, equities analysts predict that PENN Entertainment will post 1 EPS for the current fiscal year.

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.