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 report published on Thursday,Benzinga reports.

PENN has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a research note on Friday, November 8th. Mizuho lowered their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Barclays dropped their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Susquehanna dropped their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. Finally, Morgan Stanley decreased 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, PENN Entertainment currently has an average rating of “Hold” and a consensus target price of $23.44.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $20.02 on Thursday. The company has a fifty day moving average of $19.94 and a two-hundred day moving average of $19.36. The company has a market capitalization of $3.06 billion, a PE ratio of -5.64, a P/E/G ratio of 1.27 and a beta of 2.08. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $24.57. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business posted $1.21 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts expect that PENN Entertainment will post -1.54 earnings per share for the current year.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors have recently modified their holdings of the company. Hedges Asset Management LLC raised its holdings in PENN Entertainment by 2.2% in the 4th quarter. Hedges Asset Management LLC now owns 204,650 shares of the company’s stock valued at $4,056,000 after acquiring an additional 4,400 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of PENN Entertainment during the 4th quarter worth about $27,805,000. Westside Investment Management Inc. grew its holdings in PENN Entertainment by 3.2% in the fourth quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock valued at $393,000 after purchasing an additional 620 shares during the period. Harbor Capital Advisors Inc. raised its stake in PENN Entertainment by 8.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock worth $11,851,000 after purchasing an additional 46,209 shares during the period. Finally, Modus Advisors LLC purchased a new stake in shares of PENN Entertainment during the 4th quarter valued at $63,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.