PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.44.

Several equities research analysts recently issued reports on PENN shares. Wells Fargo & Company boosted their price target on PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Morgan Stanley dropped their price target on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. Susquehanna decreased their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Finally, Bank of America assumed coverage on PENN Entertainment in a research note on Wednesday, November 13th. They set a “neutral” rating and a $22.00 target price for the company.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in shares of PENN Entertainment by 4,624.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock valued at $28,183,000 after acquiring an additional 1,425,274 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of PENN Entertainment during the 4th quarter worth about $27,805,000. Assenagon Asset Management S.A. grew its stake in shares of PENN Entertainment by 1,051.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock valued at $26,809,000 after buying an additional 1,297,976 shares during the period. Armistice Capital LLC raised its stake in PENN Entertainment by 91.9% during the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock worth $51,156,000 after buying an additional 1,266,023 shares during the period. Finally, Long Focus Capital Management LLC acquired a new stake in PENN Entertainment in the second quarter valued at approximately $11,613,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Trading Up 1.6 %

Shares of NASDAQ:PENN opened at $20.20 on Tuesday. The stock has a market cap of $3.08 billion, a PE ratio of -5.69, a P/E/G ratio of 1.48 and a beta of 2.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $24.14. The business has a 50 day moving average of $19.86 and a 200-day moving average of $19.40.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that PENN Entertainment will post -1.57 earnings per share for the current year.

About PENN Entertainment

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.