PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• PENN Entertainment has a consensus analyst rating of "Hold" from 15 brokerages, with eight buys, six holds, and one sell. The average 12-month price target is about $20.29.
• The company’s recent quarterly results topped expectations, with EPS of $0.11 versus the $0.05 estimate and revenue of $1.78 billion versus $1.74 billion expected. Revenue rose 6.4% year over year, though net margin remained negative.
• Shares opened at $16.74, trading above both the 50-day and 200-day moving averages, while institutional ownership remains high at 91.69%. Recent analyst actions were mixed, including price-target cuts and rating upgrades/downgrades.

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has received a consensus recommendation of "Hold" from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given 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 $20.2857.

PENN has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Wall Street Zen raised shares of PENN Entertainment from a "strong sell" rating to a "hold" rating in a report on Monday, March 2nd. Susquehanna dropped their target price on shares of PENN Entertainment from $20.00 to $17.00 and set a "positive" rating for the company in a report on Wednesday, February 11th. Canaccord Genuity Group dropped their target price 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, Benchmark raised shares of PENN Entertainment from a "hold" rating to a "buy" rating and set a $21.00 target price for the company in a report on Thursday, March 5th.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $16.74 on Monday. The firm has a 50 day moving average of $15.26 and a 200 day moving average of $14.72. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -2.49, a P/E/G ratio of 0.54 and a beta of 1.43. PENN Entertainment has a 12-month low of $11.65 and a 12-month high of $20.60. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.06. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. As a group, research analysts predict that PENN Entertainment will post 1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PENN. AQR Capital Management LLC lifted its holdings in PENN Entertainment by 824.3% in the 4th quarter. AQR Capital Management LLC now owns 3,499,700 shares of the company's stock worth $51,341,000 after purchasing an additional 3,121,051 shares in the last quarter. Hill Path Capital LP increased its holdings in PENN Entertainment by 64.4% in the 3rd 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. Arrowstreet Capital Limited Partnership lifted its stake in PENN Entertainment by 74.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,930,293 shares of the company's stock worth $75,697,000 after purchasing an additional 1,679,953 shares in the last quarter. Kettle Hill Capital Management LLC lifted its stake in PENN Entertainment by 129.5% in the 4th quarter. Kettle Hill Capital Management LLC now owns 1,773,390 shares of the company's stock worth $26,158,000 after purchasing an additional 1,000,830 shares in the last quarter. Finally, Armistice Capital LLC lifted its stake in PENN Entertainment by 47.2% in the 4th quarter. Armistice Capital LLC now owns 3,096,000 shares of the company's stock worth $45,666,000 after purchasing an additional 992,334 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Company Profile

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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