PENN Entertainment (NASDAQ:PENN) Rating Lowered to “Hold” at Zacks Research

PENN Entertainment (NASDAQ:PENN) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Several other research firms have also issued reports on PENN. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Monday, September 21st. Jefferies Financial Group reiterated a “hold” rating and set a $22.00 price objective on shares of PENN Entertainment in a research report on Friday, August 7th. Bank of America raised their price objective on PENN Entertainment from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. The Goldman Sachs Group restated a “buy” rating and issued a $21.00 target price on shares of PENN Entertainment in a report on Friday, November 6th. Finally, Barclays boosted their target price on PENN Entertainment from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

PENN Entertainment Stock Performance

PENN opened at $18.15 on Tuesday. The business has a 50 day moving average price of $16.10 and a two-hundred day moving average price of $16.92. The company has a debt-to-equity ratio of 3.69, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 0.59 and a beta of 1.40. PENN Entertainment has a 1-year low of $11.65 and a 1-year high of $22.36.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.15. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.84 billion. PENN Entertainment had a negative net margin of 0.13% and a positive return on equity of 6.99%. PENN Entertainment’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) EPS. Research analysts predict that PENN Entertainment will post 0.95 EPS for the current fiscal year.

Institutional Trading of PENN Entertainment

Several large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in PENN Entertainment by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock valued at $51,000 after purchasing an additional 803 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of PENN Entertainment by 7.3% in the third quarter. Chicago Partners Investment Group LLC now owns 12,100 shares of the company’s stock worth $175,000 after buying an additional 823 shares during the period. GAMMA Investing LLC boosted its position in shares of PENN Entertainment by 19.4% in the second quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock worth $118,000 after buying an additional 895 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in shares of PENN Entertainment by 11.0% during the third quarter. NorthCrest Asset Manangement LLC now owns 11,303 shares of the company’s stock valued at $178,000 after buying an additional 1,117 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of PENN Entertainment during the second quarter valued at $25,000. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

PENN Entertainment is a diversified gaming and entertainment company that operates casinos, racetracks and sports betting facilities. Its properties offer casino games, hotel accommodations, dining, live entertainment and other hospitality services, with brands including Hollywood Casino, Ameristar and L’Auberge. The company also offers online sports betting and iCasino products in markets where they are permitted. Its digital operations complement its retail properties and include the PENN Play customer loyalty program.