PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $29.80.

PENN has been the subject of a number of research reports. Truist Financial upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday. Morgan Stanley raised their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Barclays lowered their price target on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Finally, StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $17.19 on Friday. The firm has a 50-day moving average of $17.61 and a 200-day moving average of $21.36. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $2.62 billion, a PE ratio of -4.72 and a beta of 2.06. PENN Entertainment has a 52-week low of $15.88 and a 52-week high of $31.63.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. On average, sell-side analysts anticipate that PENN Entertainment will post -0.87 EPS for the current year.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in PENN. Norges Bank bought a new stake in shares of PENN Entertainment during the 4th quarter valued at approximately $42,758,000. ING Groep NV bought a new stake in shares of PENN Entertainment during the 4th quarter valued at approximately $32,556,000. Kettle Hill Capital Management LLC bought a new stake in shares of PENN Entertainment during the 3rd quarter valued at approximately $19,792,000. Sei Investments Co. grew its holdings in shares of PENN Entertainment by 52.8% during the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after purchasing an additional 725,221 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of PENN Entertainment during the 4th quarter valued at approximately $16,341,000. 91.69% of the stock is owned by 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.