PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $23.53.

Several equities research analysts have issued reports on PENN shares. Morgan Stanley cut 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. Macquarie increased their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America initiated coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $27.00 in a report on Friday, December 13th. Finally, Benchmark restated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th.

PENN Entertainment Stock Down 2.9 %

Shares of PENN opened at $19.24 on Friday. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $25.53. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a fifty day simple moving average of $20.01 and a two-hundred day simple moving average of $19.32. The company has a market capitalization of $2.94 billion, a PE ratio of -5.42 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The company 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%. PENN Entertainment’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. As a group, equities analysts forecast that PENN Entertainment will post -1.55 EPS for the current year.

Institutional Trading of PENN Entertainment

A number of large investors have recently made changes to their positions in PENN. DekaBank Deutsche Girozentrale acquired a new position in PENN Entertainment during the 3rd quarter worth approximately $45,000. GAMMA Investing LLC grew its stake in shares of PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after purchasing an additional 1,275 shares in the last quarter. Quest Partners LLC purchased a new position in PENN Entertainment in the third quarter valued at $56,000. International Assets Investment Management LLC raised its stake in PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after buying an additional 3,057 shares in the last quarter. Finally, Quarry LP lifted its holdings in PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other 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.