Berenberg Bank Issues Pessimistic Forecast for Entain (LON:ENT) Stock Price

Entain (LON:ENT) had its price objective lowered by research analysts at Berenberg Bank from GBX 1,145 to GBX 1,090 in a research report issued on Wednesday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 139.93% from the company’s previous close.

Several other research firms have also issued reports on ENT. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,000 price target on shares of Entain in a research report on Monday, October 12th. Shore Capital Group restated a “buy” rating and set a GBX 988 target price on shares of Entain in a research note on Friday, September 18th. JPMorgan Chase & Co. raised their target price on Entain from GBX 1,025 to GBX 1,050 and gave the company an “overweight” rating in a report on Monday, August 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Entain from GBX 914 to GBX 872 and set a “buy” rating on the stock in a research note on Wednesday, September 30th. Seven analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 978.57.

Entain Price Performance

ENT stock opened at GBX 454.30 on Wednesday. The company’s 50-day moving average price is GBX 483.95 and its two-hundred day moving average price is GBX 531.60. The firm has a market cap of £2.91 billion, a P/E ratio of -5.02, a P/E/G ratio of 0.92 and a beta of 0.76. The company has a quick ratio of 0.74, a current ratio of 1.01 and a debt-to-equity ratio of 497.51. Entain has a 12 month low of GBX 405.41 and a 12 month high of GBX 826.80.

Insiders Place Their Bets

In related news, insider Michael Snape bought 24,013 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were purchased at an average price of GBX 416 per share, with a total value of £99,894.08. 7.42% of the stock is owned by corporate insiders.

Entain Company Profile

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world’s largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US.