PENN Entertainment (NASDAQ:PENN) Price Target Raised to $22.00 at Benchmark

PENN Entertainment (NASDAQ:PENN) had its price target boosted by Benchmark from $21.00 to $22.00 in a research note released on Friday,Benzinga reports. Benchmark currently has a buy rating on the stock.

PENN has been the topic of several other reports. Wells Fargo & Company cut their price objective on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 14th. Mizuho set a $28.00 target price on PENN Entertainment in a report on Friday. The Goldman Sachs Group began coverage on PENN Entertainment in a research note on Friday, June 26th. They issued a “buy” rating and a $26.00 price target on the stock. 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 report on Friday, April 24th. Finally, Capital One Financial raised PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.35.

PENN Entertainment Price Performance

Shares of PENN opened at $20.18 on Friday. The stock has a 50 day simple moving average of $20.78 and a 200 day simple moving average of $16.97. PENN Entertainment has a 52-week low of $11.65 and a 52-week high of $22.36. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $2.70 billion, a PE ratio of -3.17, a P/E/G ratio of 0.38 and a beta of 1.43.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that PENN Entertainment will post 1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in PENN. BlackRock Inc. bought a new stake in PENN Entertainment in the 2nd quarter valued at about $410,579,000. AQR Capital Management LLC increased its holdings in shares of PENN Entertainment by 824.3% during the fourth quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company’s stock worth $51,341,000 after purchasing an additional 3,121,051 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of PENN Entertainment by 74.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company’s stock valued at $75,697,000 after buying an additional 1,679,953 shares in the last quarter. Bank of America Corp DE raised its position in shares of PENN Entertainment by 57.9% in the first quarter. Bank of America Corp DE now owns 4,351,310 shares of the company’s stock valued at $65,400,000 after buying an additional 1,595,502 shares in the last quarter. Finally, Kettle Hill Capital Management LLC boosted its stake in shares of PENN Entertainment by 129.5% in the fourth quarter. Kettle Hill Capital Management LLC now owns 1,773,390 shares of the company’s stock valued at $26,158,000 after buying an additional 1,000,830 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Trending Headlines about PENN Entertainment

Here are the key news stories impacting PENN Entertainment this week:

• Positive Sentiment: Benchmark raises rating and price target: Benchmark Co. lifted its price target from $21 to $22 and upgraded PENN to “Buy,” implying further upside from recent trading levels. Benzinga analyst rating report
• Positive Sentiment: Quarterly earnings beat expectations: PENN reported second-quarter adjusted earnings of $0.44 per share, ahead of estimates ranging from $0.35 to $0.37 and well above the prior-year result. Revenue of $1.86 billion was in line with expectations but increased 5.2% year over year. PENN tops Q2 earnings and revenue estimates
• Positive Sentiment: Improved outlook: Management is targeting more than 20% growth in 2026 adjusted EBITDAR and raised its retail revenue guidance to $5.87 billion, signaling confidence in casino demand and operating performance. PENN raises 2026 guidance
• Positive Sentiment: Broad-based casino demand: Reports characterized the quarter as showing improved profits and resilient demand across PENN’s casino operations. The company was also included in Zacks’ Rank #1 “Strong Buy” growth-stock list. Improved profits amid casino demand
• Neutral Sentiment: Revenue was merely in line: Although earnings exceeded forecasts, quarterly sales matched consensus estimates, limiting the size of the positive surprise. PENN sales in line with estimates
• Negative Sentiment: Prediction-market competition is a risk: PENN expects an “arms race” in prediction markets this fall while maintaining its current strategy, potentially increasing marketing costs and competitive pressure. PENN prediction-market competition

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.