Entain (LON:ENT) Price Target Cut to GBX 1,080 by Analysts at Berenberg Bank

Entain (LON:ENT) had its target price dropped by analysts at Berenberg Bank from GBX 1,090 to GBX 1,080 in a note issued to investors on Tuesday, London Stock Exchange reports. The firm presently has a “buy” rating on the stock. Berenberg Bank‘s price objective would suggest a potential upside of 125.23% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Entain from GBX 1,025 to GBX 1,050 and gave the stock an “overweight” rating in a research report on Monday, August 17th. Shore Capital Group restated a “buy” rating and set a GBX 988 price target on shares of Entain in a report on Friday, September 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Entain from GBX 914 to GBX 872 and set a “buy” rating for the company in a report on Wednesday, September 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,000 target price on shares of Entain in a research report on Thursday, October 29th. Seven investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, Entain presently has an average rating of “Buy” and an average target price of GBX 977.14.

Entain Price Performance

Shares of LON:ENT traded down GBX 1.10 during trading on Tuesday, hitting GBX 479.50. 5,514,140 shares of the company were exchanged, compared to its average volume of 21,820,119. Entain has a 1-year low of GBX 405.41 and a 1-year high of GBX 801. The company has a market capitalization of £3.07 billion, a P/E ratio of -5.30, a price-to-earnings-growth 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. The business’s 50 day moving average is GBX 468.43 and its 200-day moving average is GBX 545.71.

Insider Activity at Entain

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

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.