PENN Entertainment, Inc. (NASDAQ:PENN) Receives $21.06 Average Target Price from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have earned an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $21.75.

A number of research analysts have commented on PENN shares. Susquehanna increased their target price on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, April 24th. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Wednesday, June 24th. Stifel Nicolaus lifted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Finally, Barclays boosted their target price on shares of PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, April 24th.

PENN Entertainment Price Performance

PENN opened at $22.01 on Tuesday. The company has a market capitalization of $2.95 billion, a P/E ratio of -3.28, a PEG ratio of 0.70 and a beta of 1.42. The company has a 50-day moving average of $19.00 and a 200-day moving average of $15.90. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. PENN Entertainment has a 1-year low of $11.65 and a 1-year high of $22.36.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, topping 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 negative net margin of 13.55% and a positive return on equity of 0.44%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 earnings per share. Equities analysts expect that PENN Entertainment will post 1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its stake in PENN Entertainment by 824.3% in the fourth quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock valued at $51,341,000 after acquiring an additional 3,121,051 shares during the period. Hill Path Capital LP boosted its position in PENN Entertainment by 64.4% during the 3rd quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock valued at $110,934,000 after purchasing an additional 2,257,000 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in PENN Entertainment by 74.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock worth $75,697,000 after buying an additional 1,679,953 shares during the last quarter. Bank of America Corp DE increased its position in PENN Entertainment by 57.9% in the first quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock worth $65,400,000 after buying an additional 1,595,502 shares during the period. Finally, Kettle Hill Capital Management LLC increased its position in PENN Entertainment by 129.5% in the fourth quarter. Kettle Hill Capital Management LLC now owns 1,773,390 shares of the company’s stock worth $26,158,000 after buying an additional 1,000,830 shares during the period. Institutional investors own 91.69% of the company’s stock.

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.