PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $24.00 at Mizuho

PENN Entertainment (NASDAQ:PENN - Get Free Report) had its price target decreased by analysts at Mizuho from $25.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price objective indicates a potential upside of 51.20% from the stock's current price.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. StockNews.com raised shares of PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Macquarie reaffirmed an "outperform" rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, February 28th. Canaccord Genuity Group cut their target price on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $22.91.

PENN Entertainment Trading Up 1.5%

PENN stock traded up $0.23 during mid-day trading on Monday, hitting $15.87. 841,064 shares of the company were exchanged, compared to its average volume of 4,258,601. PENN Entertainment has a 12-month low of $13.25 and a 12-month high of $23.08. The firm has a market capitalization of $2.39 billion, a P/E ratio of -4.45, a PEG ratio of 1.55 and a beta of 1.81. The business has a fifty day simple moving average of $15.97 and a 200-day simple moving average of $18.77. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company earned ($0.76) earnings per share. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts predict that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in PENN Entertainment in the fourth quarter valued at $596,000. Raymond James Financial Inc. acquired a new position in shares of PENN Entertainment during the fourth quarter worth approximately $17,804,000. ING Groep NV bought a new stake in shares of PENN Entertainment in the 4th quarter worth approximately $9,910,000. IFP Advisors Inc increased its holdings in shares of PENN Entertainment by 201.5% in the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after buying an additional 1,052 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PENN Entertainment by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company's stock worth $26,503,000 after acquiring an additional 55,138 shares during the last quarter. Institutional investors own 91.69% of the company's stock.

PENN Entertainment Company Profile

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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