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

Key Points

• Analysts have rated PENN Entertainment, Inc. with a consensus recommendation of "Moderate Buy," with one sell rating, six hold ratings, and eleven buy ratings.
• The average 12-month target price for PENN's stock among analysts is set at $23.25, reflecting a range of price targets from $17.00 to $25.00.
• PENN Entertainment reported earnings of $0.10 EPS for the last quarter, surpassing analyst estimates and generating $1.77 billion in revenue, a 6.1% increase compared to the previous year.

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have earned an average rating of "Moderate Buy" from the eighteen analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $23.25.

PENN has been the topic of a number of research analyst reports. Needham & Company LLC cut their price target on PENN Entertainment from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Stifel Nicolaus increased their target price on shares of PENN Entertainment from $17.00 to $19.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. Morgan Stanley reaffirmed a "sell" rating on shares of PENN Entertainment in a research note on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of PENN Entertainment in a report on Monday, June 23rd. They set an "overweight" rating and a $24.00 price objective on the stock. Finally, Wall Street Zen downgraded PENN Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $19.80 on Friday. The business has a 50-day moving average price of $18.90 and a two-hundred day moving average price of $17.16. PENN Entertainment has a 1-year low of $13.25 and a 1-year high of $23.08. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39. The company has a market cap of $2.89 billion, a P/E ratio of -35.36 and a beta of 1.41.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.14. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned ($0.18) EPS. The firm's revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that PENN Entertainment will post -1.61 EPS for the current year.

Insider Buying and Selling

In other news, Director David A. Handler purchased 20,000 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the completion of the acquisition, the director owned 342,941 shares in the company, valued at $5,816,279.36. This trade represents a 6.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.67% of the company's stock.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in shares of PENN Entertainment by 152.2% in the second quarter. Parallel Advisors LLC now owns 1,397 shares of the company's stock worth $25,000 after purchasing an additional 843 shares in the last quarter. Quarry LP bought a new position in PENN Entertainment during the first quarter valued at approximately $30,000. GAMMA Investing LLC increased its holdings in shares of PENN Entertainment by 38.7% in the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock worth $43,000 after buying an additional 736 shares during the period. Byrne Asset Management LLC increased its stake in PENN Entertainment by 201.1% in the 1st quarter. Byrne Asset Management LLC now owns 2,710 shares of the company's stock worth $44,000 after purchasing an additional 1,810 shares during the period. Finally, State of Wyoming bought a new stake in PENN Entertainment in the first quarter valued at approximately $46,000. Institutional investors own 91.69% of the company's stock.

About PENN Entertainment

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.

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