PENN Entertainment, Inc. (NASDAQ:PENN) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst sentiment is moderately bullish: Twenty-one analysts give PENN Entertainment an average “Moderate Buy” rating, including 14 buys and one strong buy. The average 12-month price target is $23.61.
• Recent financial results exceeded expectations: PENN reported quarterly EPS of $0.44 versus the $0.37 consensus estimate, while revenue reached $1.86 billion, up 5.2% year over year.
• Shares remain below analyst targets: PENN opened at $15.89, compared with a 12-month range of $11.65 to $22.36. Institutional investors own 91.69% of the company, though PENN carries elevated leverage with a debt-to-equity ratio of 3.79.

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-one analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.61.

PENN has been the topic of several research analyst reports. 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. Mizuho set a $28.00 price objective on shares of PENN Entertainment in a report on Friday, August 7th. Capital One Financial upgraded PENN Entertainment from an "equal weight" rating to an "overweight" rating and set a $26.00 price objective for the company in a research report on Thursday, July 23rd. Citizens Jmp lifted their price target on shares of PENN Entertainment from $24.00 to $26.00 and gave the company a "market outperform" rating in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of PENN Entertainment from a "hold" rating to a "buy" rating and upped their target price for the company from $23.00 to $25.00 in a research report on Tuesday, October 6th.

PENN Entertainment Stock Performance

PENN stock opened at $15.89 on Monday. The business's fifty day moving average is $16.08 and its 200-day moving average is $16.78. PENN Entertainment has a twelve month low of $11.65 and a twelve month 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 company has a market cap of $2.13 billion, a P/E ratio of -2.50, a price-to-earnings-growth ratio of 0.41 and a beta of 1.40.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.86 billion. During the same period last year, the firm posted ($0.12) earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that PENN Entertainment will post 1.20 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Nykredit A S acquired a new stake in shares of PENN Entertainment in the second quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. bought a new position in PENN Entertainment in the 2nd quarter worth $66,000. Versant Capital Management Inc raised its holdings in shares of PENN Entertainment by 29.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,513 shares of the company's stock worth $51,000 after buying an additional 803 shares in the last quarter. IFP Advisors Inc lifted its position in PENN Entertainment by 103.1% during the 3rd quarter. IFP Advisors Inc now owns 3,920 shares of the company's stock valued at $57,000 after purchasing an additional 1,990 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of PENN Entertainment by 19.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock worth $118,000 after purchasing an additional 895 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

About PENN Entertainment

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.

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