Analysts Set PENN Entertainment, Inc. (NASDAQ:PENN) Target Price at $23.53

PENN Entertainment, Inc. (NASDAQ:PENN) has been given an average recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.5294.

PENN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on PENN Entertainment from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $22.00 price objective on shares of PENN Entertainment in a research report on Friday, August 7th. Truist Financial increased their target price on PENN Entertainment from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Wells Fargo & Company decreased their target price on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 14th. Finally, Capital One Financial raised shares of PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a research note on Thursday, July 23rd.

Hedge Funds Weigh In On PENN Entertainment

A number of hedge funds have recently added to or reduced their stakes in PENN. Nykredit A S bought a new position in PENN Entertainment in the second quarter worth approximately $25,000. Quarry LP purchased a new position in shares of PENN Entertainment in the 4th quarter valued at $36,000. IFP Advisors Inc increased its holdings in shares of PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after acquiring an additional 1,196 shares during the period. Modus Advisors LLC bought a new position in shares of PENN Entertainment in the 4th quarter worth $47,000. Finally, Triumph Capital Management purchased a new stake in shares of PENN Entertainment during the 3rd quarter worth $54,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Price Performance

NASDAQ:PENN opened at $18.65 on Wednesday. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -2.93, a PEG ratio of 0.48 and a beta of 1.43. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50 day simple moving average of $20.48 and a 200-day simple moving average of $17.32. PENN Entertainment has a 1 year low of $11.65 and a 1 year high of $22.36.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.07. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm posted ($0.12) EPS. PENN Entertainment’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that PENN Entertainment will post 1.19 EPS for the current year.

PENN Entertainment Company Profile

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.