PENN Entertainment (NASDAQ:PENN) Announces Earnings Results

PENN Entertainment (NASDAQ:PENN) released its quarterly earnings data on Thursday. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04, Briefing.com reports. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis.

PENN Entertainment Trading Up 1.4 %

Shares of PENN Entertainment stock traded up $0.28 during trading on Friday, hitting $20.50. 3,864,299 shares of the company were exchanged, compared to its average volume of 5,122,846. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The firm has a 50 day moving average price of $18.98 and a 200 day moving average price of $18.31. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35.

Insider Activity at PENN Entertainment

In other news, CEO Jay A. Snowden acquired 54,200 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the purchase, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Handler acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $17.51 per share, with a total value of $175,100.00. Following the purchase, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 79,200 shares of company stock valued at $1,450,548 over the last quarter. Insiders own 2.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Friday. Stifel Nicolaus increased their price objective on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. Macquarie restated an “outperform” rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.89.

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.