PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Six 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 brokerages that have issued a report on the stock in the last year is $29.80.

PENN has been the topic of several recent research reports. Macquarie dropped their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Tuesday. Stifel Nicolaus dropped their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Finally, Barclays dropped their price objective on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, April 19th.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $17.19 on Friday. The company’s 50-day moving average is $17.61 and its 200 day moving average is $21.36. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $2.62 billion, a P/E ratio of -4.72 and a beta of 2.06. PENN Entertainment has a fifty-two week low of $15.88 and a fifty-two week high of $31.63.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. On average, equities research analysts forecast that PENN Entertainment will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Huntington National Bank increased its position in shares of PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $32,000. Lindbrook Capital LLC increased its position in shares of PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $40,000. Finally, Signaturefd LLC increased its position in shares of PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after purchasing an additional 727 shares during the last quarter. 91.69% of the stock is currently owned by 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.