PENN Entertainment (NASDAQ:PENN) Upgraded at Benchmark

PENN Entertainment (NASDAQ:PENN) was upgraded by equities researchers at Benchmark from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm currently has a $21.00 price objective on the stock. Benchmark’s price target would indicate a potential upside of 37.52% from the company’s current price.

Several other equities analysts also recently commented on PENN. Susquehanna dropped their price objective on PENN Entertainment from $20.00 to $17.00 and set a “positive” rating on the stock in a research note on Wednesday, February 11th. Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus raised PENN Entertainment from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $21.00 in a report on Friday, November 7th. Citizens Jmp dropped their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $19.47.

PENN Entertainment Stock Up 2.3%

PENN stock opened at $15.27 on Thursday. PENN Entertainment has a 1-year low of $11.65 and a 1-year high of $20.60. The stock has a market cap of $2.04 billion, a P/E ratio of -2.54, a P/E/G ratio of 0.45 and a beta of 1.33. The stock’s fifty day simple moving average is $13.80 and its two-hundred day simple moving average is $15.87. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 3.92.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.30. PENN Entertainment had a negative net margin of 12.11% and a negative return on equity of 1.94%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned ($0.44) EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that PENN Entertainment will post -1.61 EPS for the current year.

Institutional Trading of PENN Entertainment

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of PENN Entertainment by 22.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after buying an additional 556 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in PENN Entertainment by 1.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock valued at $1,245,000 after acquiring an additional 745 shares during the period. Jones Financial Companies Lllp boosted its stake in PENN Entertainment by 33.7% during the third quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after acquiring an additional 825 shares in the last quarter. Keybank National Association OH grew its holdings in PENN Entertainment by 6.3% in the second quarter. Keybank National Association OH now owns 14,655 shares of the company’s stock worth $262,000 after purchasing an additional 870 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of PENN Entertainment by 3.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock valued at $394,000 after purchasing an additional 922 shares in the last quarter. 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.