PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on PENN Entertainment, with 12 buy, 7 hold and 1 sell rating among 20 analysts. The average 12-month price target is $23.53, above the reported share price of $18.29.
• PENN reported quarterly EPS of $0.44, beating the $0.37 consensus estimate, while revenue rose 5.2% year over year to $1.86 billion. Analysts expect full-year EPS of approximately $1.19.
• Institutional investors own 91.69% of the stock. PENN shares have traded between $11.65 and $22.36 over the past year, with a 50-day moving average of $20.65 and a 200-day moving average of $17.23.

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.5294.

A number of equities research analysts recently issued reports on PENN shares. Benchmark increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Bank of America upped their price objective on shares of PENN Entertainment from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Truist Financial raised their price objective on shares of PENN Entertainment from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Wells Fargo & Company cut their target price on shares of PENN Entertainment from $24.00 to $23.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of PENN Entertainment in a report on Wednesday, June 24th.

Institutional Trading of PENN Entertainment

Large investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its position in PENN Entertainment by 1.1% during the second quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company's stock worth $1,245,000 after acquiring an additional 745 shares during the period. GAMMA Investing LLC raised its stake in PENN Entertainment by 19.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,506 shares of the company's stock worth $118,000 after purchasing an additional 895 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in PENN Entertainment by 3.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company's stock valued at $394,000 after purchasing an additional 922 shares during the period. IFP Advisors Inc boosted its holdings in PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company's stock valued at $41,000 after purchasing an additional 1,196 shares during the period. Finally, Tidal Investments LLC grew its position in shares of PENN Entertainment by 8.1% during the 2nd quarter. Tidal Investments LLC now owns 19,689 shares of the company's stock worth $352,000 after purchasing an additional 1,483 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $18.29 on Wednesday. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.89 and a quick ratio of 0.89. The business's fifty day moving average price is $20.65 and its two-hundred day moving average price is $17.23. PENN Entertainment has a fifty-two week low of $11.65 and a fifty-two week high of $22.36. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -2.88, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%.The company had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the business earned ($0.12) earnings per share. The business's revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that PENN Entertainment will post 1.19 EPS 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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