PENN Entertainment (PENN) Set to Announce Earnings on Thursday

PENN Entertainment (NASDAQ:PENN) is set to release its earnings data before the market opens on Thursday, November 7th. Analysts expect PENN Entertainment to post earnings of ($0.25) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, analysts expect PENN Entertainment to post $-1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PENN Entertainment Trading Down 2.0 %

NASDAQ PENN opened at $19.06 on Tuesday. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -2.35 and a beta of 2.09. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $27.20. The business has a 50 day moving average price of $18.96 and a 200-day moving average price of $18.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35.

Insider Activity

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

Analysts Set New Price Targets

PENN has been the topic of several research analyst reports. Morgan Stanley cut their price objective on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC restated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Truist Financial dropped their price objective on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Barclays decreased their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.89.

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.