PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seventeen research firms that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.53.
Several analysts have recently weighed in on PENN shares. Macquarie lifted their price objective on PENN Entertainment from $26.00 to $27.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research note on Friday, November 8th. Mizuho lowered their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Tuesday, October 22nd. Truist Financial reduced their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Finally, Bank of America began coverage on shares of PENN Entertainment in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $22.00 target price on the stock.
Get Our Latest Stock Report on PENN
Institutional Investors Weigh In On PENN Entertainment
A number of hedge funds have recently added to or reduced their stakes in PENN. Tidal Investments LLC lifted its position in shares of PENN Entertainment by 35.2% during the third quarter. Tidal Investments LLC now owns 14,888 shares of the company's stock worth $281,000 after purchasing an additional 3,879 shares in the last quarter. Neo Ivy Capital Management bought a new position in PENN Entertainment in the third quarter valued at about $716,000. Sender Co & Partners Inc. acquired a new stake in PENN Entertainment in the third quarter worth about $321,000. M&T Bank Corp lifted its position in PENN Entertainment by 4.2% during the 3rd quarter. M&T Bank Corp now owns 12,460 shares of the company's stock valued at $235,000 after purchasing an additional 497 shares during the period. Finally, MML Investors Services LLC boosted its stake in shares of PENN Entertainment by 27.6% in the 3rd quarter. MML Investors Services LLC now owns 49,613 shares of the company's stock valued at $936,000 after purchasing an additional 10,740 shares during the last quarter. Institutional investors own 91.69% of the company's stock.
PENN Entertainment Stock Performance
PENN stock traded down $0.01 on Friday, reaching $18.69. 2,057,619 shares of the company were exchanged, compared to its average volume of 4,821,579. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $27.20. The stock's fifty day moving average price is $19.97 and its 200 day moving average price is $19.27. The firm has a market capitalization of $2.85 billion, a PE ratio of -5.26 and a beta of 2.08.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts anticipate that PENN Entertainment will post -1.55 EPS for the current fiscal year.
About PENN Entertainment
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Get Free ReportPENN 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.
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