PENN Entertainment, Inc. (NASDAQ:PENN) Stock Has Average Target Price of $23.94

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $24.00.

Several research analysts have issued reports on the stock. Mizuho set a $28.00 price target on shares of PENN Entertainment in a research report on Friday, August 7th. Wells Fargo & Company cut their price objective on 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. Benchmark raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Morgan Stanley restated an “underperform” rating on shares of PENN Entertainment in a report on Wednesday, August 12th. Finally, Barclays boosted their target price on PENN Entertainment from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday.

Institutional Trading of PENN Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its stake in PENN Entertainment by 29.6% in the third quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock valued at $51,000 after acquiring an additional 803 shares during the last quarter. GAMMA Investing LLC grew its holdings in PENN Entertainment by 19.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock worth $118,000 after acquiring an additional 895 shares during the period. Nykredit A S bought a new stake in shares of PENN Entertainment during the 2nd quarter valued at $25,000. PNC Financial Services Group Inc. raised its position in shares of PENN Entertainment by 13.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,298 shares of the company’s stock valued at $215,000 after acquiring an additional 1,745 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of PENN Entertainment by 12.9% in the 2nd quarter. HighTower Advisors LLC now owns 21,535 shares of the company’s stock valued at $460,000 after purchasing an additional 2,461 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $15.48 on Thursday. PENN Entertainment has a twelve month low of $11.65 and a twelve month high of $22.36. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -2.43, a PEG ratio of 0.40 and a beta of 1.39. The firm has a 50-day moving average of $17.28 and a two-hundred day moving average of $18.01.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.07. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company posted ($0.12) EPS. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that PENN Entertainment will post 1.20 earnings per share for the current fiscal year.

About PENN Entertainment

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and hotels, offering casino gaming, sports wagering, dining, live entertainment and other hospitality services. Its property portfolio includes regional gaming destinations serving customers across the United States.

PENN also develops and operates digital gaming products, including online sports betting and iCasino services. Its digital operations have included the ESPN BET sportsbook, developed through a strategic relationship with ESPN, as well as theScore Bet, supported by the company’s acquisition of Canadian digital media and sports betting business theScore.