PENN Entertainment, Inc. (NASDAQ:PENN) Receives $23.53 Average Price Target from Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.53.

PENN has been the topic of several research analyst reports. Morgan Stanley dropped their target price on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Mizuho lowered their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Macquarie increased their price objective on PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Bank of America started coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price objective on the stock.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock worth $28,183,000 after purchasing an additional 1,425,274 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of PENN Entertainment by 1,051.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock worth $26,809,000 after buying an additional 1,297,976 shares in the last quarter. Armistice Capital LLC raised its position in shares of PENN Entertainment by 91.9% in the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after buying an additional 1,266,023 shares during the last quarter. Long Focus Capital Management LLC purchased a new position in shares of PENN Entertainment in the second quarter worth about $11,613,000. Finally, DME Capital Management LP boosted its position in PENN Entertainment by 11.9% during the second quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock worth $98,620,000 after acquiring an additional 540,630 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

NASDAQ PENN opened at $19.24 on Friday. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $25.53. The firm’s fifty day simple moving average is $20.01 and its two-hundred day simple moving average is $19.32. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $2.94 billion, a P/E ratio of -5.42 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts forecast that PENN Entertainment will post -1.55 EPS for the current fiscal year.

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.