Wells Fargo & Company Trims PENN Entertainment (NASDAQ:PENN) Target Price to $18.00

PENN Entertainment (NASDAQ:PENN) had its target price dropped by equities research analysts at Wells Fargo & Company from $21.00 to $18.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 19.01% from the stock’s current price.

A number of other brokerages also recently commented on PENN. Canaccord Genuity Group reduced their price objective on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. Needham & Company LLC restated a “buy” rating and issued a $32.00 price objective on shares of PENN Entertainment in a research report on Thursday. Macquarie reduced their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Finally, Mizuho lifted their price target on shares of PENN Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.93.

PENN Entertainment Stock Performance

Shares of PENN traded up $0.12 during mid-day trading on Friday, hitting $15.13. 8,571,369 shares of the company’s stock were exchanged, compared to its average volume of 5,921,869. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. The firm has a market capitalization of $2.30 billion, a P/E ratio of -4.16 and a beta of 2.06. The business’s 50 day moving average is $17.44 and its two-hundred day moving average is $21.16. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. On average, equities analysts expect that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP increased its stake in shares of PENN Entertainment by 324.7% during the 1st quarter. GSA Capital Partners LLP now owns 109,096 shares of the company’s stock worth $1,987,000 after purchasing an additional 83,407 shares in the last quarter. Graypoint LLC purchased a new stake in PENN Entertainment in the 1st quarter worth approximately $487,000. Hanlon Investment Management Inc. grew its stake in PENN Entertainment by 13.9% in the 1st quarter. Hanlon Investment Management Inc. now owns 89,882 shares of the company’s stock worth $1,637,000 after acquiring an additional 11,000 shares during the period. Capstone Investment Advisors LLC grew its stake in PENN Entertainment by 281.4% in the 1st quarter. Capstone Investment Advisors LLC now owns 59,049 shares of the company’s stock worth $1,075,000 after acquiring an additional 43,566 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in PENN Entertainment by 603.3% in the 1st quarter. BNP Paribas Financial Markets now owns 93,384 shares of the company’s stock worth $1,701,000 after acquiring an additional 80,106 shares during the period. 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.