Citizens Jmp Has Lowered Expectations for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its target price lowered by research analysts at Citizens Jmp from $25.00 to $24.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s target price indicates a potential upside of 65.06% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus raised PENN Entertainment from a “hold” rating to a “buy” rating and increased their target price for the company from $19.00 to $21.00 in a report on Friday. JMP Securities increased their price objective on PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday. Citigroup reaffirmed an “outperform” rating on shares of PENN Entertainment in a report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of PENN Entertainment from $19.00 to $17.00 and set a “hold” rating on the stock in a report on Friday. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and a consensus price target of $22.56.

PENN Entertainment Stock Down 0.8%

PENN stock opened at $14.54 on Friday. The company’s 50 day moving average price is $18.22 and its 200 day moving average price is $17.49. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -25.96 and a beta of 1.53. PENN Entertainment has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm earned ($0.24) EPS. The company’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts anticipate that PENN Entertainment will post -1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Large investors have recently modified their holdings of the company. Invesco Ltd. grew its position in shares of PENN Entertainment by 54.6% during the first quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock worth $97,905,000 after acquiring an additional 2,120,740 shares during the last quarter. Hill Path Capital LP acquired a new stake in PENN Entertainment during the 2nd quarter worth $62,595,000. Arrowstreet Capital Limited Partnership purchased a new position in PENN Entertainment during the 2nd quarter worth $40,214,000. Norges Bank purchased a new position in PENN Entertainment during the 2nd quarter worth $39,737,000. Finally, Hennessy Advisors Inc. acquired a new position in PENN Entertainment in the third quarter valued at $40,537,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.