PENN Entertainment (NASDAQ:PENN) Upgraded at StockNews.com

StockNews.com upgraded shares of PENN Entertainment (NASDAQ:PENN) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other brokerages have also weighed in on PENN. Mizuho reduced their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, November 8th. Wells Fargo & Company upped 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. Finally, Morgan Stanley lowered 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. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.53.

PENN Entertainment Trading Down 1.5 %

NASDAQ PENN opened at $18.17 on Tuesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50-day moving average is $19.99 and its 200-day moving average is $19.22. PENN Entertainment has a one year low of $13.50 and a one year high of $27.20. The firm has a market cap of $2.77 billion, a P/E ratio of -5.12 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.04. The firm 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 business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. Sell-side analysts anticipate that PENN Entertainment will post -1.55 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates raised its stake in PENN Entertainment by 81.7% in the 2nd quarter. Raymond James & Associates now owns 155,826 shares of the company’s stock valued at $3,016,000 after acquiring an additional 70,067 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of PENN Entertainment by 7.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,745 shares of the company’s stock worth $324,000 after buying an additional 1,215 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of PENN Entertainment by 75.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 75,200 shares of the company’s stock worth $1,455,000 after buying an additional 32,300 shares during the period. Principal Financial Group Inc. grew its stake in PENN Entertainment by 30.8% in the 2nd quarter. Principal Financial Group Inc. now owns 733,840 shares of the company’s stock valued at $14,203,000 after buying an additional 172,792 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in PENN Entertainment by 425.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 64,341 shares of the company’s stock valued at $1,245,000 after acquiring an additional 52,104 shares during the period. Institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

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.