PENN Entertainment (NASDAQ:PENN) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• PENN stock crossed above its 200‑day moving average, trading as high as $17.36 and last at $16.75 versus the 200‑day MA of $14.72 on roughly 3.33 million shares traded.
• Analysts are mixed but lean neutral with a MarketBeat consensus of "Hold" and a consensus target of $20.29 (8 Buys, 6 Holds, 1 Sell) after recent target increases from Stifel and Barclays.
• PENN beat the quarter—EPS $0.11 vs. $0.05 estimate and revenue $1.78B vs. $1.74B—but still reports a negative net margin (‑13.55%) and high leverage (debt/equity 3.94).

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.72 and traded as high as $17.36. PENN Entertainment shares last traded at $16.75, with a volume of 3,331,056 shares trading hands.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on shares of PENN Entertainment from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Susquehanna reduced their target price on shares of PENN Entertainment from $20.00 to $17.00 and set a "positive" rating for the company in a research report on Wednesday, February 11th. Barclays boosted their target price on shares of PENN Entertainment from $23.00 to $24.00 and gave the company an "overweight" rating in a research report on Friday, April 24th. Wall Street Zen raised shares of PENN Entertainment from a "strong sell" rating to a "hold" rating in a research report on Monday, March 2nd. Finally, Morgan Stanley boosted their target price on shares of PENN Entertainment from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, PENN Entertainment presently has an average rating of "Hold" and a consensus target price of $20.29.

PENN Entertainment Price Performance

The company's 50-day moving average is $15.18 and its two-hundred day moving average is $14.72. The company has a debt-to-equity ratio of 3.94, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $2.24 billion, a P/E ratio of -2.49, a PEG ratio of 0.56 and a beta of 1.43.

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

Institutional Investors Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in PENN Entertainment during the fourth quarter worth about $36,000. IFP Advisors Inc lifted its position in PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company's stock worth $41,000 after purchasing an additional 1,196 shares during the period. Triumph Capital Management bought a new position in shares of PENN Entertainment in the third quarter worth about $54,000. Cloud Capital Management LLC bought a new position in shares of PENN Entertainment in the third quarter worth about $54,000. Finally, Modus Advisors LLC bought a new position in shares of PENN Entertainment in the fourth quarter worth about $47,000. Institutional investors own 91.69% of the company's stock.

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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