Equities research analysts at Benchmark initiated coverage on shares of PENN Entertainment (NASDAQ:PENN - Get Free Report) in a research report issued on Tuesday, MarketBeat Ratings reports. The firm set a "hold" rating on the stock.
A number of other research analysts have also recently commented on PENN. Morgan Stanley increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. Truist Financial dropped their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a "hold" rating for the company in a report on Friday, February 16th. Macquarie dropped their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an "outperform" rating for the company in a report on Friday, February 16th. Stifel Nicolaus dropped their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a "hold" rating for the company in a report on Friday, February 16th. Finally, Mizuho started coverage on shares of PENN Entertainment in a report on Tuesday, March 26th. They issued a "buy" rating and a $29.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $31.38.
Read Our Latest Report on PENN Entertainment
PENN Entertainment Price Performance
Shares of PENN stock traded up $0.26 on Tuesday, reaching $16.54. The company had a trading volume of 6,405,965 shares, compared to its average volume of 5,632,156. The stock has a market capitalization of $2.52 billion, a PE ratio of -4.54 and a beta of 2.06. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. PENN Entertainment has a one year low of $15.88 and a one year high of $31.63. The business's 50-day moving average is $18.36 and its 200 day moving average is $21.58.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($1.18). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. Equities research analysts forecast that PENN Entertainment will post -0.86 EPS for the current fiscal year.
Institutional Trading of PENN Entertainment
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $59,504,000. ING Groep NV acquired a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $32,556,000. Kettle Hill Capital Management LLC acquired a new stake in shares of PENN Entertainment during the 3rd quarter worth approximately $19,792,000. Renaissance Technologies LLC grew its position in shares of PENN Entertainment by 79.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company's stock worth $75,891,000 after buying an additional 791,500 shares during the period. Finally, Sei Investments Co. grew its position in shares of PENN Entertainment by 52.8% during the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company's stock worth $54,595,000 after buying an additional 725,221 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.
PENN Entertainment Company Profile
(
Get Free Report)
PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.
See Also
Before you consider PENN Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PENN Entertainment wasn't on the list.
While PENN Entertainment currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
