PENN Entertainment (NASDAQ:PENN) Given New $23.00 Price Target at Wells Fargo & Company

PENN Entertainment (NASDAQ:PENN) had its target price raised by Wells Fargo & Company from $22.00 to $23.00 in a report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also commented on PENN. Bank of America upped their price target on shares of PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, July 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of PENN Entertainment in a research note on Friday. Citizens Jmp raised their target price on shares of PENN Entertainment from $24.00 to $26.00 and gave the company a “market outperform” rating in a research note on Thursday, July 16th. Barclays upped their price target on PENN Entertainment from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PENN Entertainment has a consensus rating of “Moderate Buy” and an average target price of $23.56.

PENN Entertainment Trading Up 0.5%

PENN stock traded up $0.09 during mid-day trading on Friday, reaching $17.43. The company’s stock had a trading volume of 4,343,204 shares, compared to its average volume of 2,922,435. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79. PENN Entertainment has a 12 month low of $11.65 and a 12 month high of $22.36. The business’s 50 day moving average price is $16.01 and its 200 day moving average price is $16.86. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -193.65, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.15. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.84 billion. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) earnings per share. On average, equities research analysts predict that PENN Entertainment will post 1.20 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of PENN Entertainment by 122.5% during the third quarter. Allworth Financial LP now owns 13,637 shares of the company’s stock valued at $200,000 after buying an additional 7,508 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in PENN Entertainment in the 3rd quarter worth approximately $25,000. Maryland State Retirement & Pension System raised its holdings in PENN Entertainment by 53.7% in the 3rd quarter. Maryland State Retirement & Pension System now owns 28,510 shares of the company’s stock worth $418,000 after acquiring an additional 9,961 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in PENN Entertainment by 132.9% in the 3rd quarter. Jefferies Financial Group Inc. now owns 28,900 shares of the company’s stock valued at $423,000 after acquiring an additional 16,492 shares in the last quarter. Finally, Keybank National Association OH bought a new position in PENN Entertainment in the 3rd quarter valued at approximately $200,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment News Summary

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

• Positive Sentiment: PENN reported third-quarter adjusted earnings of $0.32 per share, above analysts’ estimates, while revenue of $1.84 billion was roughly in line and increased 7.1% year over year. The company swung to a profit from a loss in the year-ago quarter. PENN Entertainment reports third-quarter results
• Positive Sentiment: Reports highlighted growth from U.S. iCasino and Canada, alongside improved revenue and adjusted EBITDA. The second tower at M Resort is also continuing to contribute to revenue. These trends support the case for continued digital and property-level growth. U.S. iCasino and Canada drive growth
• Positive Sentiment: Wells Fargo raised its price target to $23 from $22, while keeping an “equal weight” rating. The higher target is supportive, though the unchanged rating signals a neutral analyst stance. Wells Fargo rating and price-target update
• Neutral Sentiment: PENN is reportedly not prioritizing acquisitions, suggesting management is focusing on its existing business rather than pursuing deals. The impact depends on execution and the returns from organic growth. PENN is not prioritizing acquisitions
• Neutral Sentiment: A renewed push for gambling in Texas may follow the midterm elections, but this remains a potential future opportunity rather than an immediate revenue driver. Texas gambling push after the midterm elections
• Negative Sentiment: Gaming-sector sentiment was pressured by DraftKings’ sharp decline after its outlook disappointed investors, with coverage also reporting declines for PENN and other operators. Concerns about competition and spending on prediction markets could weigh on perceptions of the broader online betting industry. Gaming stocks fall amid DraftKings outlook concerns

PENN Entertainment Company Profile

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.