PENN Entertainment (NASDAQ:PENN) Releases Earnings Results, Beats Estimates By $0.04 EPS

PENN Entertainment (NASDAQ:PENN) posted 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. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS.

PENN Entertainment Trading Up 1.4 %

Shares of PENN traded up $0.28 during midday trading on Friday, reaching $20.50. The stock had a trading volume of 3,864,299 shares, compared to its average volume of 5,122,846. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day moving average is $18.98 and its 200 day moving average is $18.31. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $27.20.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Macquarie reiterated an “outperform” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a report on Friday. Morgan Stanley reduced their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. Mizuho dropped their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, Benchmark restated a “hold” rating on shares of PENN Entertainment in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.89.

Insider Activity at PENN Entertainment

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 completion of the purchase, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Anuj Dhanda acquired 15,000 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the transaction, the director now owns 31,523 shares of the company’s stock, valued at $580,023.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jay A. Snowden bought 54,200 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the acquisition, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 79,200 shares of company stock valued at $1,450,548. Corporate insiders own 2.19% 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.