PENN Entertainment, Inc. (NASDAQ:PENN) Receives $20.29 Consensus Target Price from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Hold” by the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.2857.

PENN has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of PENN Entertainment in a research note on Friday, March 27th. Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Barclays boosted their price target on PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on PENN Entertainment from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 24th. Finally, Mizuho boosted their price objective on PENN Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, April 24th.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $21.21 on Friday. The business’s 50 day simple moving average is $17.05 and its 200 day simple moving average is $15.11. PENN Entertainment has a one year low of $11.65 and a one year high of $21.92. The stock has a market capitalization of $2.84 billion, a PE ratio of -3.16, a PEG ratio of 0.70 and a beta of 1.44. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. As a group, research analysts forecast that PENN Entertainment will post 1.01 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $36,000. IFP Advisors Inc boosted its position in shares of PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after buying an additional 1,196 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of PENN Entertainment during the fourth quarter valued at approximately $47,000. Triumph Capital Management purchased a new position in shares of PENN Entertainment during the third quarter valued at approximately $54,000. Finally, Hantz Financial Services Inc. boosted its holdings in PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after purchasing an additional 2,954 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

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.