PENN Entertainment, Inc. (NASDAQ:PENN) Stock Has Average Target Price of $23.94 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on PENN Entertainment, with 13 buy ratings, six holds and one sell. The average 12-month price target is $23.94, well above the reported share price of $15.72.
• PENN’s latest quarterly results exceeded expectations, with adjusted EPS of $0.44 versus the $0.37 consensus estimate and revenue of $1.86 billion, up 5.2% year over year.
• Institutional investors own 91.69% of the stock, while PENN shares remain below their 50-day and 200-day moving averages and carry a high debt-to-equity ratio of 3.79.

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $23.94.

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on PENN Entertainment from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of PENN Entertainment from a "hold" rating to a "buy" rating and increased their price target for the company from $23.00 to $25.00 in a research report on Tuesday. The Goldman Sachs Group started coverage on shares of PENN Entertainment in a research note on Friday, June 26th. They set a "buy" rating and a $26.00 price target on the stock. Morgan Stanley restated an "underperform" rating on shares of PENN Entertainment in a report on Wednesday, August 12th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of PENN Entertainment in a research note on Tuesday, August 18th.

Institutional Trading of PENN Entertainment

Several hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in shares of PENN Entertainment by 29.6% during the third quarter. Versant Capital Management Inc now owns 3,513 shares of the company's stock valued at $51,000 after buying an additional 803 shares during the period. GAMMA Investing LLC lifted its holdings in PENN Entertainment by 19.4% in the second quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock worth $118,000 after buying an additional 895 shares during the period. Nykredit A S purchased a new stake in PENN Entertainment in the second quarter worth about $25,000. PNC Financial Services Group Inc. boosted its position in PENN Entertainment by 13.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,298 shares of the company's stock valued at $215,000 after acquiring an additional 1,745 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in PENN Entertainment by 12.9% during the 2nd quarter. HighTower Advisors LLC now owns 21,535 shares of the company's stock valued at $460,000 after acquiring an additional 2,461 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Down 1.2%

PENN opened at $15.72 on Thursday. The business's fifty day simple moving average is $17.48 and its 200 day simple moving average is $18.01. PENN Entertainment has a 52 week low of $11.65 and a 52 week high of $22.36. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.79. The stock has a market cap of $2.11 billion, a PE ratio of -2.47, a P/E/G ratio of 0.41 and a beta of 1.39.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company's revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that PENN Entertainment will post 1.19 earnings per share for the current fiscal year.

About PENN Entertainment

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and hotels, offering casino gaming, sports wagering, dining, live entertainment and other hospitality services. Its property portfolio includes regional gaming destinations serving customers across the United States.

PENN also develops and operates digital gaming products, including online sports betting and iCasino services. Its digital operations have included the ESPN BET sportsbook, developed through a strategic relationship with ESPN, as well as theScore Bet, supported by the company's acquisition of Canadian digital media and sports betting business theScore.

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