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

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.53.

A number of analysts recently issued reports on PENN shares. Mizuho dropped their price target 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. Morgan Stanley dropped their target price 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. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price target on PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th.

Institutional Investors Weigh In On PENN Entertainment

Large investors have recently made changes to their positions in the stock. DME Capital Management LP raised its position in shares of PENN Entertainment by 11.9% in the 2nd quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock valued at $98,620,000 after buying an additional 540,630 shares in the last quarter. Earnest Partners LLC grew its position in shares of PENN Entertainment by 4.6% in the 2nd quarter. Earnest Partners LLC now owns 4,117,946 shares of the company’s stock valued at $79,703,000 after buying an additional 179,813 shares during the last quarter. Armistice Capital LLC increased its position in PENN Entertainment by 91.9% during the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after purchasing an additional 1,266,023 shares during the period. Sei Investments Co. lifted its holdings in PENN Entertainment by 3.7% in the second quarter. Sei Investments Co. now owns 2,461,074 shares of the company’s stock valued at $47,634,000 after buying an additional 88,797 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in 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 worth $28,183,000 after purchasing an additional 1,425,274 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $18.70 on Friday. The firm’s 50-day moving average is $19.97 and its two-hundred day moving average is $19.27. 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 has a market capitalization of $2.85 billion, a P/E ratio of -5.27 and a beta of 2.08. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $27.20.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Equities analysts predict that PENN Entertainment will post -1.55 earnings per share for the current year.

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.