PENN Entertainment’s (PENN) “Hold” Rating Reaffirmed at Needham & Company LLC

PENN Entertainment (NASDAQ:PENN)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Friday, MarketBeat.com reports.

PENN has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PENN Entertainment in a research report on Wednesday. Stifel Nicolaus increased their target price on PENN Entertainment from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, July 11th. Morgan Stanley restated a “sell” rating on shares of PENN Entertainment in a research report on Friday, July 11th. Wall Street Zen lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Barclays cut their price objective on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.56.

PENN Entertainment Price Performance

PENN Entertainment stock traded up $0.42 during mid-day trading on Friday, hitting $15.07. 612,947 shares of the company traded hands, compared to its average volume of 4,063,588. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -27.05 and a beta of 1.53. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79. PENN Entertainment has a one year low of $13.25 and a one year high of $23.08. The stock has a fifty day moving average price of $18.33 and a 200-day moving average price of $17.47.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.12). The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) EPS. On average, equities analysts predict that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Large investors have recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of PENN Entertainment in the first quarter worth about $289,000. Principal Financial Group Inc. increased its stake in PENN Entertainment by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 742,899 shares of the company’s stock worth $12,117,000 after acquiring an additional 17,752 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in shares of PENN Entertainment by 13.6% during the 2nd quarter. Peregrine Capital Management LLC now owns 315,633 shares of the company’s stock worth $5,640,000 after acquiring an additional 37,888 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of PENN Entertainment during the 1st quarter worth approximately $344,000. Finally, Baron Wealth Management LLC bought a new position in shares of PENN Entertainment during the 2nd quarter valued at approximately $650,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.