PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of “Hold” from Analysts

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

A number of equities analysts have issued reports on PENN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Friday, March 27th. Susquehanna cut their price target on PENN Entertainment from $20.00 to $17.00 and set a “positive” rating for the company in a research note on Wednesday, February 11th. Wells Fargo & Company lifted their price target on PENN Entertainment from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Wall Street Zen upgraded PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Canaccord Genuity Group cut their target price on PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd.

Hedge Funds Weigh In On PENN Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Treasurer of the State of North Carolina boosted its stake in shares of PENN Entertainment by 1.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock worth $1,245,000 after buying an additional 745 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of PENN Entertainment by 33.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after buying an additional 825 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of PENN Entertainment by 3.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock worth $394,000 after buying an additional 922 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of PENN Entertainment by 8.1% in the 2nd quarter. Tidal Investments LLC now owns 19,689 shares of the company’s stock worth $352,000 after buying an additional 1,483 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

PENN stock opened at $16.20 on Monday. The company has a market capitalization of $2.17 billion, a P/E ratio of -2.41, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43. 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 52-week low of $11.65 and a 52-week high of $20.60. The business has a 50-day simple moving average of $15.43 and a two-hundred day simple moving average of $14.66.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. Research analysts expect that PENN Entertainment will post 1 EPS for the current fiscal year.

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.