PENN Entertainment, Inc. (NASDAQ:PENN) Receives $29.80 Consensus Target Price from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received an average rating of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $29.80.

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Needham & Company LLC reduced their price target on shares of PENN Entertainment from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. StockNews.com lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Truist Financial raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday. Finally, Barclays dropped their price objective on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, April 19th.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in PENN. Norges Bank purchased a new position in PENN Entertainment during the fourth quarter valued at $42,758,000. ING Groep NV bought a new position in shares of PENN Entertainment during the fourth quarter valued at $32,556,000. Kettle Hill Capital Management LLC bought a new position in shares of PENN Entertainment during the third quarter valued at $19,792,000. Sei Investments Co. increased its holdings in shares of PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after acquiring an additional 725,221 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of PENN Entertainment during the fourth quarter valued at $16,341,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Up 3.0 %

Shares of PENN Entertainment stock opened at $17.43 on Friday. PENN Entertainment has a 12-month low of $15.88 and a 12-month high of $31.63. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -4.79 and a beta of 2.06. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The company’s 50-day moving average price is $17.75 and its 200-day moving average price is $21.42.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities analysts expect that PENN Entertainment will post -0.86 earnings per share for the current fiscal year.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.