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

Key Points

• PENN Entertainment has a consensus analyst rating of “Moderate Buy” from 20 brokerages, with an average 12-month price target of about $22.78.
• Recent analyst updates were mixed but generally constructive: Bank of America raised its target to $22 with a neutral rating, Barclays lifted its target to $26 with an overweight rating, and Goldman Sachs initiated coverage with a buy rating and $26 target.
• The company recently beat quarterly earnings and revenue estimates, reporting $0.11 EPS on $1.78 billion in revenue, while shares traded near $20.48 after moving within a 52-week range of $11.65 to $22.36.

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $22.7778.

Several equities analysts have issued reports on PENN shares. Bank of America lifted their price objective on PENN Entertainment from $18.00 to $22.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Barclays raised their target price on PENN Entertainment from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Morgan Stanley lifted their price target on PENN Entertainment from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. The Goldman Sachs Group started coverage on shares of PENN Entertainment in a research report on Friday, June 26th. They set a "buy" rating and a $26.00 price target on the stock. Finally, Jefferies Financial Group reissued a "hold" rating on shares of PENN Entertainment in a report on Thursday, July 2nd.

Hedge Funds Weigh In On PENN Entertainment

A number of large investors have recently modified their holdings of PENN. SG Americas Securities LLC raised its position in PENN Entertainment by 330.0% in the 4th quarter. SG Americas Securities LLC now owns 149,710 shares of the company's stock worth $2,208,000 after purchasing an additional 114,892 shares during the last quarter. CWM LLC boosted its position in PENN Entertainment by 1,055.9% in the 4th quarter. CWM LLC now owns 92,056 shares of the company's stock valued at $1,358,000 after buying an additional 84,092 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in PENN Entertainment in the 4th quarter valued at $6,376,000. MYDA Advisors LLC acquired a new stake in shares of PENN Entertainment in the 4th quarter valued at $369,000. Finally, Penn Capital Management Company LLC increased its stake in shares of PENN Entertainment by 4.6% in the 4th quarter. Penn Capital Management Company LLC now owns 893,055 shares of the company's stock valued at $13,205,000 after buying an additional 39,324 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $20.48 on Friday. PENN Entertainment has a 1-year low of $11.65 and a 1-year high of $22.36. The company has a 50 day moving average of $20.17 and a 200-day moving average of $16.54. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.94. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -3.05, a PEG ratio of 0.38 and a beta of 1.42.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.PENN Entertainment's revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. On average, equities analysts forecast that PENN Entertainment will post 1.39 earnings per share for the current fiscal year.

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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