PENN Entertainment (NASDAQ:PENN) PT Lowered to $26.00

PENN Entertainment (NASDAQ:PENN) had its target price reduced by Barclays from $27.00 to $26.00 in a report released on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts have also commented on the stock. Mizuho assumed coverage on shares of PENN Entertainment in a research note on Tuesday, March 26th. They set a buy rating and a $29.00 price objective on the stock. Benchmark started coverage on PENN Entertainment in a research report on Tuesday, April 16th. They set a hold rating on the stock. Morgan Stanley raised their target price on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Needham & Company LLC cut their price target on shares of PENN Entertainment from $33.00 to $32.00 and set a buy rating for the company in a report on Friday, February 16th. Finally, StockNews.com cut shares of PENN Entertainment from a hold rating to a sell rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $29.80.

PENN Entertainment Stock Performance

PENN opened at $16.93 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The business’s 50 day moving average is $17.85 and its 200-day moving average is $21.44. The stock has a market cap of $2.58 billion, a PE ratio of -4.65 and a beta of 2.06. PENN Entertainment has a twelve month low of $15.88 and a twelve month high of $31.63.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, analysts predict that PENN Entertainment will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at about $29,000. Huntington National Bank lifted its position in PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of PENN Entertainment during the 4th quarter valued at $32,000. Lindbrook Capital LLC boosted its stake in shares of PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after buying an additional 553 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of PENN Entertainment during the 4th quarter valued at $40,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.