PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Rating of “Moderate Buy” by Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned a consensus rating of “Moderate Buy” from the twenty analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $23.5294.

A number of research analysts recently issued reports on the company. Morgan Stanley restated an “underperform” rating on shares of PENN Entertainment in a research report on Wednesday, August 12th. Citigroup reaffirmed a “market outperform” rating on shares of PENN Entertainment in a research report on Tuesday, August 18th. Stifel Nicolaus raised their target price on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Bank of America boosted their price target on shares of PENN Entertainment from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Wednesday, June 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of PENN Entertainment during the second quarter valued at approximately $410,579,000. Bank of America Corp DE bought a new position in PENN Entertainment in the 2nd quarter worth approximately $108,919,000. Bamco Inc. NY acquired a new stake in PENN Entertainment in the 2nd quarter valued at approximately $58,624,000. Armistice Capital LLC increased its position in PENN Entertainment by 47.2% in the 4th quarter. Armistice Capital LLC now owns 3,096,000 shares of the company’s stock valued at $45,666,000 after acquiring an additional 992,334 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in PENN Entertainment by 9.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,323,554 shares of the company’s stock valued at $34,923,000 after acquiring an additional 196,480 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $16.45 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.79. PENN Entertainment has a fifty-two week low of $11.65 and a fifty-two week high of $22.36. The firm has a 50-day simple moving average of $18.92 and a 200 day simple moving average of $17.92. The company has a market cap of $2.21 billion, a PE ratio of -2.59, a P/E/G ratio of 0.42 and a beta of 1.38.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.86 billion. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. PENN Entertainment’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) earnings per share. On average, sell-side analysts anticipate that PENN Entertainment will post 1.19 EPS for the current year.

About PENN Entertainment

PENN Entertainment, Inc is an omnichannel provider of gaming, sports betting and entertainment services. The company operates casinos, racetracks and gaming properties offering slot machines, table games, poker, sports wagering, dining, lodging and live entertainment. Its portfolio also includes retail sportsbooks and online gaming platforms.

PENN serves customers primarily across the United States and Canada through its land-based properties and digital operations. Its online offerings have included sports betting, iCasino gaming and related media and technology products, supported by customer loyalty programs and theScore, a digital sports media and betting brand acquired by PENN in 2021.

The company was formerly known as Penn National Gaming and adopted the PENN Entertainment name in 2022 to reflect its broader entertainment and digital strategy.