PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Rating of “Hold” from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.6667.

Several research analysts have recently commented on the company. Morgan Stanley reduced their target price on PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 16th. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday, December 29th. Mizuho raised their price target on PENN Entertainment from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, March 12th. Wells Fargo & Company raised shares of PENN Entertainment from a “strong sell” rating to an “equal weight” rating and lifted their price objective for the stock from $15.00 to $16.00 in a research report on Friday, February 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective on shares of PENN Entertainment in a report on Wednesday, December 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in PENN Entertainment in the 4th quarter valued at $36,000. IFP Advisors Inc lifted its holdings in shares of 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 buying an additional 1,196 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of PENN Entertainment in the fourth quarter valued at about $47,000. Cloud Capital Management LLC bought a new stake in shares of PENN Entertainment in the third quarter valued at about $54,000. Finally, Triumph Capital Management acquired a new position in shares of PENN Entertainment in the third quarter valued at about $54,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $13.77 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 3.92. The firm’s fifty day moving average price is $13.75 and its two-hundred day moving average price is $15.24. PENN Entertainment has a 1 year low of $11.65 and a 1 year high of $20.60. The firm has a market capitalization of $1.84 billion, a P/E ratio of -2.29, a price-to-earnings-growth ratio of 0.45 and a beta of 1.33.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.30. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. PENN Entertainment had a negative net margin of 12.11% and a negative return on equity of 1.94%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.44) EPS. As a group, research analysts anticipate that PENN Entertainment will post -1.61 EPS for the current year.

About PENN Entertainment

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.