Analysts Set PENN Entertainment, Inc. (NASDAQ:PENN) Target Price at $19.67

PENN Entertainment, Inc. (NASDAQ:PENN) has earned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $19.6667.

A number of equities analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of PENN Entertainment from a “strong sell” rating to an “equal weight” rating and lifted their target price for the stock from $15.00 to $16.00 in a research report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Monday, December 29th. Susquehanna cut their price objective on PENN Entertainment from $20.00 to $17.00 and set a “positive” rating for the company in a research report on Wednesday, February 11th. Benchmark upgraded PENN Entertainment from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Thursday, March 5th. Finally, Canaccord Genuity Group lowered their target price on PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd.

PENN Entertainment Trading Down 0.6%

Shares of PENN stock opened at $14.57 on Friday. PENN Entertainment has a fifty-two week low of $11.65 and a fifty-two week high of $20.60. The stock has a market cap of $1.95 billion, a P/E ratio of -2.42, a P/E/G ratio of 0.48 and a beta of 1.33. The business has a fifty day simple moving average of $13.76 and a 200-day simple moving average of $15.32. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 3.92.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.30. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. PENN Entertainment had a negative net margin of 12.11% and a negative return on equity of 1.94%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.44) EPS. On average, analysts forecast that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

Large investors have recently made changes to their positions in the stock. Hill Path Capital LP acquired a new position in PENN Entertainment in the 2nd quarter valued at about $62,595,000. AQR Capital Management LLC boosted its stake in shares of PENN Entertainment by 824.3% during the 4th quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock worth $51,341,000 after purchasing an additional 3,121,051 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of PENN Entertainment during the 2nd quarter worth about $40,214,000. Norges Bank purchased a new stake in shares of PENN Entertainment during the second quarter worth about $39,737,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of PENN Entertainment during the third quarter worth about $40,537,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.