PENN Entertainment (NASDAQ:PENN) Price Target Cut to $26.00 by Analysts at Barclays

PENN Entertainment (NASDAQ:PENN) had its price objective trimmed by Barclays from $27.00 to $26.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

PENN has been the subject of several other research reports. StockNews.com cut shares of PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. Benchmark initiated coverage on shares of PENN Entertainment in a research report on Tuesday. They set a hold rating for the company. Morgan Stanley increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Needham & Company LLC decreased their target price on shares of PENN Entertainment from $33.00 to $32.00 and set a buy rating for the company in a research report on Friday, February 16th. Finally, Macquarie decreased their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $29.80.

PENN Entertainment Price Performance

Shares of PENN opened at $16.54 on Friday. The company has a 50 day moving average price of $17.98 and a 200-day moving average price of $21.46. PENN Entertainment has a fifty-two week low of $15.88 and a fifty-two week high of $31.63. The stock has a market capitalization of $2.52 billion, a PE ratio of -4.54 and a beta of 2.06. 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 quarterly 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 positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Equities analysts predict that PENN Entertainment will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Norges Bank purchased a new position in PENN Entertainment during the fourth quarter valued at $59,504,000. ING Groep NV purchased a new position in PENN Entertainment during the fourth quarter valued at $32,556,000. Kettle Hill Capital Management LLC purchased a new position in PENN Entertainment during the third quarter valued at $19,792,000. Renaissance Technologies LLC lifted its holdings in PENN Entertainment by 79.3% during the first quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock valued at $75,891,000 after purchasing an additional 791,500 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after purchasing an additional 725,221 shares in the last quarter. 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.