PENN Entertainment, Inc. (NASDAQ:PENN) Receives $20.29 Consensus Target Price from Analysts

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

A number of equities research analysts have issued reports on PENN shares. Wells Fargo & Company upped their target price on PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft upped their price target on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, April 24th. Citigroup upped their price target on PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Mizuho upped their price target on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Benchmark upgraded PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, March 5th.

PENN Entertainment Stock Up 6.0%

Shares of PENN Entertainment stock opened at $20.32 on Friday. The stock has a market capitalization of $2.72 billion, a P/E ratio of -3.02, a PEG ratio of 0.62 and a beta of 1.44. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. The stock has a 50 day moving average price of $16.78 and a two-hundred day moving average price of $15.01. PENN Entertainment has a 12-month low of $11.65 and a 12-month high of $20.60.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The firm had revenue of $1.78 billion during 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 was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities analysts expect that PENN Entertainment will post 1.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Shapiro Capital Management LLC lifted its holdings in shares of PENN Entertainment by 6.6% during the third quarter. Shapiro Capital Management LLC now owns 6,856,778 shares of the company’s stock worth $132,062,000 after buying an additional 425,190 shares during the last quarter. Hill Path Capital LP lifted its holdings in shares of PENN Entertainment by 64.4% during the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company’s stock worth $110,934,000 after buying an additional 2,257,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of PENN Entertainment by 57.9% during 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 last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of PENN Entertainment by 74.7% during the third 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. Finally, AQR Capital Management LLC raised its stake in shares of 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 purchasing an additional 3,121,051 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

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.