PENN Entertainment (NASDAQ:PENN) Price Target Raised to $22.00 at Jefferies Financial Group

PENN Entertainment (NASDAQ:PENN - Free Report) had its price objective increased by Jefferies Financial Group from $21.00 to $22.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research analysts also recently weighed in on the company. Bank of America assumed coverage on PENN Entertainment in a research note on Wednesday, November 13th. They set a "neutral" rating and a $22.00 target price on the stock. Barclays cut their price objective on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, October 17th. JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a research note on Friday, October 4th. Morgan Stanley dropped their price objective on shares of PENN Entertainment from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $23.44.

PENN Entertainment Trading Down 2.5 %

PENN traded down $0.48 during trading on Friday, hitting $18.76. 3,642,843 shares of the stock were exchanged, compared to its average volume of 3,283,921. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $25.53. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -5.28 and a beta of 2.08. The firm has a 50 day simple moving average of $19.99 and a 200 day simple moving average of $19.32. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS. As a group, equities analysts expect that PENN Entertainment will post -1.55 EPS for the current year.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. DME Capital Management LP raised its stake in PENN Entertainment by 11.9% during the second quarter. DME Capital Management LP now owns 5,095,340 shares of the company's stock worth $98,620,000 after purchasing an additional 540,630 shares during the period. Earnest Partners LLC grew its position in PENN Entertainment by 4.6% in the second quarter. Earnest Partners LLC now owns 4,117,946 shares of the company's stock worth $79,703,000 after acquiring an additional 179,813 shares during the period. Armistice Capital LLC increased its stake in PENN Entertainment by 91.9% during the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company's stock worth $51,156,000 after acquiring an additional 1,266,023 shares during the last quarter. Sei Investments Co. increased its position in shares of PENN Entertainment by 3.7% during the 2nd quarter. Sei Investments Co. now owns 2,461,074 shares of the company's stock worth $47,634,000 after purchasing an additional 88,797 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of PENN Entertainment by 4,624.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company's stock valued at $28,183,000 after acquiring an additional 1,425,274 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.

PENN Entertainment Company Profile

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.