PENN Entertainment’s (PENN) Market Perform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note released on Tuesday morning, Benzinga reports.

PENN has been the subject of several other reports. Mizuho initiated coverage on PENN Entertainment in a report on Tuesday, March 26th. They set a buy rating and a $29.00 target price for the company. Barclays reduced their target price on PENN Entertainment from $27.00 to $26.00 and set an overweight rating for the company in a report on Friday, April 19th. Macquarie reduced their target price on PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a report on Friday, February 16th. Morgan Stanley upped their target price on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Finally, Stifel Nicolaus reduced their target price on PENN Entertainment from $27.00 to $23.00 and set a hold rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $29.80.

PENN Entertainment Trading Down 1.9 %

NASDAQ:PENN opened at $16.86 on Tuesday. PENN Entertainment has a 1 year low of $15.88 and a 1 year high of $31.63. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -4.63 and a beta of 2.06. The business has a fifty day moving average of $17.58 and a 200-day moving average of $21.33. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. Equities analysts predict that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kettle Hill Capital Management LLC bought a new stake in PENN Entertainment during the third quarter worth $19,792,000. Source Financial Advisors LLC lifted its stake in shares of PENN Entertainment by 1,061.1% in the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after acquiring an additional 294,845 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of PENN Entertainment in the 3rd quarter valued at $1,750,000. Sei Investments Co. lifted its stake in shares of PENN Entertainment by 13.9% in the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock valued at $31,510,000 after acquiring an additional 167,445 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of PENN Entertainment by 20.0% in the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock valued at $140,000 after acquiring an additional 896 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.