PENN Entertainment (NASDAQ:PENN) PT Lowered to $22.00

PENN Entertainment (NASDAQ:PENN) had its price target reduced by stock analysts at Barclays from $26.00 to $22.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 42.95% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Benchmark started coverage on shares of PENN Entertainment in a report on Tuesday, April 16th. They issued a “hold” rating for the company. Stifel Nicolaus lowered their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a report on Friday, February 16th. StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Macquarie lowered their price target on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Finally, JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.57.

PENN Entertainment Stock Performance

NASDAQ PENN traded up $0.39 on Friday, hitting $15.39. 4,595,365 shares of the stock were exchanged, compared to its average volume of 5,872,485. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11. The business’s fifty day moving average is $17.48 and its 200 day moving average is $21.20. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $29.38. The company has a market capitalization of $2.34 billion, a PE ratio of -4.23 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. Research analysts anticipate that PENN Entertainment will post -0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in PENN Entertainment by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock worth $383,273,000 after acquiring an additional 97,945 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of PENN Entertainment by 11.1% during the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock worth $62,380,000 after purchasing an additional 271,254 shares during the last quarter. Sei Investments Co. lifted its stake in shares of PENN Entertainment by 52.8% during the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after purchasing an additional 725,221 shares during the last quarter. Norges Bank purchased a new stake in PENN Entertainment in the fourth quarter valued at about $42,758,000. Finally, ING Groep NV purchased a new stake in PENN Entertainment in the fourth quarter valued at about $32,556,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.