PENN Entertainment (NASDAQ:PENN) Stock Gets Price Target Cut from JPMorgan Chase & Co.

PENN Entertainment (NASDAQ:PENN) had its price target cut by JPMorgan Chase & Co. from $27.00 to $24.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently weighed in on PENN. Truist Financial boosted their price objective on PENN Entertainment from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Mizuho set a $28.00 price objective on PENN Entertainment in a research note on Friday, August 7th. The Goldman Sachs Group set a $23.00 target price on PENN Entertainment in a report on Tuesday, October 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $22.00 target price on shares of PENN Entertainment in a report on Friday, August 7th. Finally, Barclays boosted their target price on PENN Entertainment from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.61.

PENN Entertainment Price Performance

PENN stock opened at $15.46 on Tuesday. PENN Entertainment has a 52 week low of $11.65 and a 52 week high of $22.36. The firm has a market capitalization of $2.07 billion, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 0.38 and a beta of 1.39. The company has a fifty day simple moving average of $16.47 and a two-hundred day simple moving average of $18.07. 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 (NASDAQ:PENN) last posted its earnings results on Thursday, August 6th. The company reported $0.44 earnings per share 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 the consensus estimate of $1.86 billion. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) EPS. Analysts anticipate that PENN Entertainment will post 1.20 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Versant Capital Management Inc grew its position in PENN Entertainment by 29.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock valued at $51,000 after acquiring an additional 803 shares during the last quarter. GAMMA Investing LLC increased its stake in PENN Entertainment by 19.4% in the second quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock worth $118,000 after purchasing an additional 895 shares during the period. NorthCrest Asset Manangement LLC increased its stake in PENN Entertainment by 11.0% in the third quarter. NorthCrest Asset Manangement LLC now owns 11,303 shares of the company’s stock worth $178,000 after purchasing an additional 1,117 shares during the period. Nykredit A S bought a new stake in shares of PENN Entertainment during the second quarter worth $25,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of PENN Entertainment by 13.9% during the first quarter. PNC Financial Services Group Inc. now owns 14,298 shares of the company’s stock worth $215,000 after purchasing an additional 1,745 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Company Profile

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and video gaming terminals, offering slot machines, table games, poker, sports wagering, hotel accommodations, restaurants, entertainment venues and other amenities.

PENN’s portfolio includes regional gaming properties operating under brands such as Hollywood Casino, Ameristar, L’Auberge and M Resort. Its land-based operations serve customers across numerous U.S.