Entain (LON:ENT) Given "Buy" Rating at Berenberg Bank

Key Points

• Berenberg Bank reiterated a Buy rating on Entain with a GBX 1,200 target price, implying roughly a 120.9% upside from the prior close.
• Six analysts currently rate the stock Buy with a consensus price target of GBX 1,109, following recent bullish/overweight notes from JPMorgan, Deutsche Bank, Citi and Shore Capital.
• Entain traded around GBX 543.20 (market cap ~£3.47bn) and shows a negative P/E (-6.32) and very high debt-to-equity (448.61); insider Ricky Sandler purchased 621,384 shares at GBX 767 and insiders own 7.42%.

Entain (LON:ENT - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Berenberg Bank in a research note issued on Monday,London Stock Exchange reports. They presently have a GBX 1,200 target price on the stock. Berenberg Bank's price objective would indicate a potential upside of 120.91% from the company's previous close.

Several other research firms also recently weighed in on ENT. JPMorgan Chase & Co. raised Entain to an "overweight" rating and cut their target price for the company from GBX 1,150 to GBX 1,090 in a research report on Tuesday, December 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Entain from GBX 1,029 to GBX 1,055 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Citigroup cut their price objective on shares of Entain from GBX 1,150 to GBX 1,100 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. Finally, Shore Capital Group reissued a "buy" rating on shares of Entain in a research note on Thursday, March 5th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of GBX 1,109.

Entain Trading Down 0.1%

ENT stock traded down GBX 0.68 during midday trading on Monday, reaching GBX 543.20. 2,278,355 shares of the company traded hands, compared to its average volume of 14,551,317. The firm has a market capitalization of £3.47 billion, a price-to-earnings ratio of -6.32, a P/E/G ratio of 0.92 and a beta of 0.90. Entain has a 52-week low of GBX 452.50 and a 52-week high of GBX 1,031.50. The business has a 50 day moving average of GBX 593.39 and a 200-day moving average of GBX 718.83. The company has a debt-to-equity ratio of 448.61, a quick ratio of 0.74 and a current ratio of 0.52.

Insider Activity at Entain

In related news, insider Ricky Sandler purchased 621,384 shares of the business's stock in a transaction dated Friday, January 2nd. The shares were purchased at an average cost of GBX 767 per share, for a total transaction of £4,766,015.28. Insiders own 7.42% of the company's stock.

About Entain

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.

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