PENN Entertainment, Inc. (NASDAQ:PENN) Stock Has Consensus Price Target of $23.61 According to Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $23.61.

Several research firms have issued reports on PENN. JPMorgan Chase & Co. reduced their price objective on PENN Entertainment from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, October 20th. Jefferies Financial Group reissued a “hold” rating and issued a $22.00 target price on shares of PENN Entertainment in a research note on Friday, August 7th. Wells Fargo & Company dropped their target price on PENN Entertainment from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Piper Sandler raised PENN Entertainment from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday, September 21st.

PENN Entertainment Trading Up 2.2%

PENN stock opened at $17.44 on Monday. PENN Entertainment has a 1-year low of $11.65 and a 1-year high of $22.36. The firm has a market cap of $2.34 billion, a P/E ratio of 42.67, a P/E/G ratio of 0.44 and a beta of 1.40. The business’s 50 day moving average is $16.02 and its 200-day moving average is $16.82. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts anticipate that PENN Entertainment will post 1.20 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently modified their holdings of the company. Nykredit A S bought a new stake in shares of PENN Entertainment during the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in PENN Entertainment in the second quarter worth approximately $66,000. Versant Capital Management Inc increased its holdings in PENN Entertainment by 29.6% in the third quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock worth $51,000 after purchasing an additional 803 shares in the last quarter. IFP Advisors Inc lifted its stake in PENN Entertainment by 103.1% in the third quarter. IFP Advisors Inc now owns 3,920 shares of the company’s stock valued at $57,000 after buying an additional 1,990 shares during the period. Finally, GAMMA Investing LLC lifted its stake in PENN Entertainment by 19.4% in the second quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $118,000 after buying an additional 895 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and video gaming terminals, offering slot machines, table games, poker, sports wagering, hotel accommodations, restaurants, entertainment venues and other amenities.

PENN’s portfolio includes regional gaming properties operating under brands such as Hollywood Casino, Ameristar, L’Auberge and M Resort. Its land-based operations serve customers across numerous U.S.