PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $26.00 at Barclays

PENN Entertainment (NASDAQ:PENN) had its price objective reduced by analysts at Barclays from $27.00 to $26.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 56.82% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Truist Financial decreased their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Morgan Stanley lifted their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Stifel Nicolaus reduced 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. Mizuho began coverage on shares of PENN Entertainment in a research report on Tuesday, March 26th. They set a “buy” rating and a $29.00 price objective for the company. Finally, StockNews.com cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.80.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock traded up $0.44 during trading hours on Friday, reaching $16.58. 1,758,690 shares of the company’s stock were exchanged, compared to its average volume of 5,551,857. PENN Entertainment has a 1 year low of $15.88 and a 1 year high of $31.63. The company has a market capitalization of $2.53 billion, a P/E ratio of -4.55 and a beta of 2.06. The business has a fifty day moving average of $18.12 and a two-hundred day moving average of $21.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts predict that PENN Entertainment will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PENN. International Assets Investment Management LLC acquired a new position in shares of PENN Entertainment during the 3rd quarter valued at about $29,000. Huntington National Bank increased its position in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in PENN Entertainment in the fourth quarter valued at approximately $32,000. Quarry LP grew its position in PENN Entertainment by 95.1% in the second quarter. Quarry LP now owns 1,383 shares of the company’s stock valued at $33,000 after acquiring an additional 674 shares in the last quarter. Finally, Tyler Stone Wealth Management acquired a new stake in PENN Entertainment in the second quarter valued at approximately $35,000. 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.