PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts give PENN an average rating of Hold from 16 firms (1 sell, 7 hold, 8 buy) with a 1‑year average target price of $19.73.
• PENN recently beat quarterly estimates—EPS $0.07 vs. ($0.23) expected and revenue $1.81B vs. $1.76B—but remains unprofitable (net margin -12.11%, ROE -1.94%) and sell‑side forecasts about -1.61 EPS for the fiscal year.
• Institutional investors and hedge funds own 91.69% of the stock, with large recent additions from firms such as Hill Path Capital, Hennessy Advisors and ING Groep.

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have been given an average rating of "Hold" by the sixteen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $19.7333.

A number of brokerages have weighed in on PENN. Weiss Ratings restated a "sell (d-)" rating on shares of PENN Entertainment in a report on Friday, March 27th. Morgan Stanley increased their target price on shares of PENN Entertainment from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 8th. Mizuho upped their price objective on shares of PENN Entertainment from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, March 12th. Canaccord Genuity Group cut their price objective on shares of PENN Entertainment from $26.00 to $21.00 and set a "buy" rating for the company in a report on Tuesday, February 3rd. Finally, Susquehanna decreased their target price on shares of PENN Entertainment from $20.00 to $17.00 and set a "positive" rating on the stock in a research note on Wednesday, February 11th.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PENN. ING Groep NV purchased a new position in shares of PENN Entertainment during the 3rd quarter worth $5,790,000. Strs Ohio grew its stake in shares of PENN Entertainment by 365.5% in the 3rd quarter. Strs Ohio now owns 252,705 shares of the company's stock valued at $4,867,000 after buying an additional 198,417 shares during the period. Invenomic Capital Management LP increased its holdings in shares of PENN Entertainment by 6.9% during the 3rd quarter. Invenomic Capital Management LP now owns 1,569,939 shares of the company's stock worth $30,237,000 after buying an additional 101,028 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of PENN Entertainment during the 3rd quarter valued at approximately $40,537,000. Finally, Hill Path Capital LP lifted its holdings in PENN Entertainment by 64.4% in the third quarter. Hill Path Capital LP now owns 5,759,820 shares of the company's stock valued at $110,934,000 after acquiring an additional 2,257,000 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $16.01 on Thursday. The firm has a market cap of $2.14 billion, a PE ratio of -2.66, a P/E/G ratio of 0.51 and a beta of 1.32. PENN Entertainment has a twelve month low of $11.65 and a twelve month high of $20.60. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 3.92. The business has a 50-day moving average price of $14.15 and a 200 day moving average price of $14.85.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.30. PENN Entertainment had a negative net margin of 12.11% and a negative return on equity of 1.94%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same period in the prior year, the business posted ($0.44) earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts predict that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

About PENN Entertainment

PENN Entertainment, Inc NASDAQ: PENN is a leading operator of gaming and racing facilities in the United States. The company's business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company's portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.

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