PENN Entertainment (NASDAQ:PENN) Price Target Raised to $19.00

PENN Entertainment (NASDAQ:PENN) had its price objective boosted by Citigroup from $17.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on PENN. Susquehanna dropped their price target on PENN Entertainment from $30.00 to $26.00 and set a “positive” rating on the stock in a research note on Monday, October 19th. Deutsche Bank upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and boosted their price target for the company from $23.00 to $25.00 in a research report on Tuesday, October 6th. Citizens Jmp lifted their price objective on shares of PENN Entertainment from $24.00 to $26.00 and gave the stock a “market outperform” rating in a report on Thursday, July 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Friday, November 6th. Finally, Capital One Financial raised shares of PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.67.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $18.15 on Monday. PENN Entertainment has a 52 week low of $11.65 and a 52 week high of $22.36. The company has a debt-to-equity ratio of 3.69, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50 day moving average price of $16.10 and a 200 day moving average price of $16.92. The stock has a market capitalization of $2.44 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 0.59 and a beta of 1.40.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.15. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.84 billion. PENN Entertainment had a positive return on equity of 6.99% and a negative net margin of 0.13%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. Analysts predict that PENN Entertainment will post 0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Public Sector Pension Investment Board raised its position in PENN Entertainment by 134.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,022,452 shares of the company’s stock worth $15,695,000 after buying an additional 586,008 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in PENN Entertainment in the third quarter worth approximately $436,000. Intech Investment Management LLC raised its stake in PENN Entertainment by 190.4% during the 3rd quarter. Intech Investment Management LLC now owns 60,266 shares of the company’s stock valued at $883,000 after buying an additional 39,513 shares during the last quarter. Allworth Financial LP grew its stake in shares of PENN Entertainment by 122.5% during the 3rd quarter. Allworth Financial LP now owns 13,637 shares of the company’s stock valued at $200,000 after purchasing an additional 7,508 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of PENN Entertainment during the 3rd quarter worth $25,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

About PENN Entertainment

PENN Entertainment is a diversified gaming and entertainment company that operates casinos, racetracks and sports betting facilities. Its properties offer casino games, hotel accommodations, dining, live entertainment and other hospitality services, with brands including Hollywood Casino, Ameristar and L’Auberge. The company also offers online sports betting and iCasino products in markets where they are permitted. Its digital operations complement its retail properties and include the PENN Play customer loyalty program.