Wells Fargo & Company Lowers PENN Entertainment (NASDAQ:PENN) Price Target to $18.00

PENN Entertainment (NASDAQ:PENN) had its price target lowered by Wells Fargo & Company from $21.00 to $18.00 in a research note released on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on PENN. Barclays dropped their price objective on shares of PENN Entertainment from $26.00 to $22.00 and set an overweight rating for the company in a research report on Friday. StockNews.com lowered shares of PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. Stifel Nicolaus dropped their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating for the company in a research report on Friday, February 16th. Macquarie dropped their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a research report on Friday, February 16th. Finally, JMP Securities reissued a market perform rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment presently has an average rating of Hold and a consensus price target of $25.92.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $15.41 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The company has a market cap of $2.35 billion, a P/E ratio of -2.07 and a beta of 2.06. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. The firm’s 50 day moving average is $17.42 and its two-hundred day moving average is $21.13.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. Analysts expect that PENN Entertainment will post -0.9 EPS for the current year.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of PENN. Commonwealth Equity Services LLC increased its position in shares of PENN Entertainment by 8.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 57,884 shares of the company’s stock worth $1,328,000 after purchasing an additional 4,270 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of PENN Entertainment by 11.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 29,804 shares of the company’s stock worth $684,000 after purchasing an additional 3,041 shares during the last quarter. FinTrust Capital Advisors LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter worth about $46,000. Raymond James & Associates increased its position in shares of PENN Entertainment by 15.7% in the 3rd quarter. Raymond James & Associates now owns 73,007 shares of the company’s stock worth $1,676,000 after purchasing an additional 9,886 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. increased its position in shares of PENN Entertainment by 10.5% in the 3rd quarter. Total Clarity Wealth Management Inc. now owns 17,363 shares of the company’s stock worth $398,000 after purchasing an additional 1,647 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

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.