Jefferies Financial Group Raises PENN Entertainment (NASDAQ:PENN) Price Target to $22.00

PENN Entertainment (NASDAQ:PENN) had its price objective hoisted by stock analysts at Jefferies Financial Group from $21.00 to $22.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 17.27% from the stock’s previous close.

Several other equities research analysts have also commented on PENN. Bank of America started coverage on PENN Entertainment in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $27.00 in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, November 8th. Finally, Wells Fargo & Company boosted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.44.

PENN Entertainment Price Performance

NASDAQ PENN opened at $18.76 on Friday. The stock’s fifty day moving average price is $19.99 and its 200 day moving average price is $19.32. 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 company has a market cap of $2.86 billion, a price-to-earnings ratio of -5.28 and a beta of 2.08. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $25.53.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.64 billion for 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. PENN Entertainment’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that PENN Entertainment will post -1.55 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Hedge funds have recently bought and sold shares of the company. M&T Bank Corp grew its holdings in PENN Entertainment by 4.2% in the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock valued at $235,000 after purchasing an additional 497 shares during the period. XTX Topco Ltd increased its holdings in PENN Entertainment by 2.8% during the 3rd quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after purchasing an additional 641 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of PENN Entertainment by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock valued at $328,000 after purchasing an additional 665 shares in the last quarter. United Services Automobile Association boosted its stake in PENN Entertainment by 6.3% during the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after acquiring an additional 712 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in PENN Entertainment by 2.5% during the second quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock valued at $743,000 after buying an additional 944 shares in the last quarter. Institutional investors and hedge funds own 91.69% 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.