PENN Entertainment (NASDAQ:PENN) Stock Gets Price Target Trim from Morgan Stanley

PENN Entertainment (NASDAQ:PENN) had its target price trimmed by Morgan Stanley from $20.00 to $18.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms have also commented on PENN. The Goldman Sachs Group set a $23.00 price target on PENN Entertainment in a research report on Tuesday, October 13th. Wells Fargo & Company lowered their price objective on PENN Entertainment from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday. Citigroup restated a “market outperform” rating on shares of PENN Entertainment in a research report on Tuesday, October 13th. Bank of America lifted their price objective on PENN Entertainment from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Susquehanna reduced their target price on PENN Entertainment from $30.00 to $26.00 and set a “positive” rating on the stock in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.61.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $14.89 on Monday. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.89 and a current ratio of 0.89. PENN Entertainment has a 52 week low of $11.65 and a 52 week high of $22.36. The firm has a market cap of $2.00 billion, a PE ratio of -2.34, a price-to-earnings-growth ratio of 0.38 and a beta of 1.39. The firm’s fifty day moving average is $16.54 and its 200-day moving average is $18.06.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data 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. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%. PENN Entertainment’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. Sell-side analysts predict that PENN Entertainment will post 1.20 earnings per share for the current year.

Institutional Trading of PENN Entertainment

A number of large investors have recently bought and sold shares of PENN. Nykredit A S bought a new position in shares of PENN Entertainment in the 2nd quarter worth about $25,000. Versant Capital Management Inc boosted its position in shares of PENN Entertainment by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock valued at $51,000 after purchasing an additional 803 shares in the last quarter. IFP Advisors Inc boosted its position in shares of PENN Entertainment by 103.1% during the 3rd quarter. IFP Advisors Inc now owns 3,920 shares of the company’s stock valued at $57,000 after purchasing an additional 1,990 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of PENN Entertainment during the 2nd quarter valued at about $66,000. Finally, GAMMA Investing LLC grew its stake in PENN Entertainment by 19.4% during the second quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock worth $118,000 after purchasing an additional 895 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About PENN Entertainment

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and video gaming terminals, offering slot machines, table games, poker, sports wagering, hotel accommodations, restaurants, entertainment venues and other amenities.

PENN’s portfolio includes regional gaming properties operating under brands such as Hollywood Casino, Ameristar, L’Auberge and M Resort. Its land-based operations serve customers across numerous U.S.