Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) Price Target at $23.44

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $23.44.

A number of research analysts have commented on PENN shares. StockNews.com lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. Truist Financial cut their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Susquehanna decreased their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Finally, Mizuho reduced their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Driehaus Capital Management LLC acquired a new position in PENN Entertainment during the second quarter worth $4,535,000. Janus Henderson Group PLC lifted its stake in PENN Entertainment by 244.7% in the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock valued at $4,697,000 after purchasing an additional 176,844 shares during the last quarter. Quantbot Technologies LP increased its position in PENN Entertainment by 84.7% during the third quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock worth $3,925,000 after buying an additional 95,423 shares during the last quarter. Verition Fund Management LLC raised its stake in PENN Entertainment by 367.2% in the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock valued at $8,543,000 after buying an additional 356,029 shares during the period. Finally, Public Sector Pension Investment Board acquired a new stake in shares of PENN Entertainment in the second quarter valued at approximately $6,363,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $20.20 on Tuesday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -5.69, a PEG ratio of 1.48 and a beta of 2.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $24.14. The company has a 50 day moving average of $19.86 and a 200-day moving average of $19.40.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.04. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. On average, equities analysts forecast that PENN Entertainment will post -1.57 earnings per share for the current fiscal year.

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.