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

PENN Entertainment, Inc. (NASDAQ:PENN) has earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $23.44.

Several brokerages recently weighed in on PENN. Macquarie lifted their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Mizuho cut their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Morgan Stanley lowered their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Barclays reduced their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th.

PENN Entertainment Stock Down 0.2 %

Shares of PENN Entertainment stock opened at $20.16 on Tuesday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -5.68, a PEG ratio of 1.48 and a beta of 2.08. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $23.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The business’s 50 day simple moving average is $19.86 and its 200-day simple moving average is $19.39.

PENN Entertainment (NASDAQ:PENN) last issued its 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 return on equity of 14.44% and a negative net margin of 8.51%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $1.21 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts forecast that PENN Entertainment will post -1.57 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DME Capital Management LP lifted its holdings in shares of PENN Entertainment by 11.9% during the second quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock valued at $98,620,000 after purchasing an additional 540,630 shares during the last quarter. Earnest Partners LLC lifted its stake in PENN Entertainment by 4.6% during the second quarter. Earnest Partners LLC now owns 4,117,946 shares of the company’s stock valued at $79,703,000 after buying an additional 179,813 shares in the last quarter. Armistice Capital LLC boosted its holdings in shares of PENN Entertainment by 91.9% in the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock worth $51,156,000 after buying an additional 1,266,023 shares during the period. Sei Investments Co. increased its position in shares of PENN Entertainment by 3.7% in the second quarter. Sei Investments Co. now owns 2,461,074 shares of the company’s stock worth $47,634,000 after acquiring an additional 88,797 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock valued at $28,183,000 after acquiring an additional 1,425,274 shares during the period. Institutional investors and hedge funds 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.