PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Recommendation of “Moderate Buy” by Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.44.

Several brokerages recently issued reports on PENN. Bank of America started coverage on PENN Entertainment in a report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price objective for the company. Morgan Stanley reduced their price target on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Mizuho dropped their price objective on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th.

PENN Entertainment Trading Down 0.2 %

Shares of NASDAQ PENN opened at $20.16 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a one year low of $13.50 and a one year high of $23.81. The business has a 50-day moving average price of $19.86 and a two-hundred day moving average price of $19.39. The firm has a market capitalization of $3.08 billion, a PE ratio of -5.68, a PEG ratio of 1.48 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) 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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that PENN Entertainment will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock valued at $28,183,000 after buying an additional 1,425,274 shares during the last quarter. SG Americas Securities LLC bought a new position in PENN Entertainment during the fourth quarter valued at about $27,805,000. Assenagon Asset Management S.A. raised its holdings in PENN Entertainment by 1,051.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock valued at $26,809,000 after acquiring an additional 1,297,976 shares in the last quarter. Armistice Capital LLC lifted its position in shares of PENN Entertainment by 91.9% in the 2nd 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 period. Finally, Long Focus Capital Management LLC acquired a new stake in shares of PENN Entertainment during the 2nd quarter worth approximately $11,613,000. 91.69% of the stock is owned by institutional investors.

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.