PENN Entertainment, Inc. (NASDAQ:PENN) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have earned an average rating of “Moderate Buy” from the twenty analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $24.06.

PENN has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 14th. Jefferies Financial Group restated a “hold” rating and set a $22.00 price objective on shares of PENN Entertainment in a research report on Friday, August 7th. Susquehanna boosted their price objective on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, July 1st. Citizens Jmp boosted their price objective on PENN Entertainment from $24.00 to $26.00 and gave the stock a “market outperform” rating in a report on Thursday, July 16th. Finally, Zacks Research downgraded PENN Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th.

PENN Entertainment Price Performance

NASDAQ:PENN opened at $15.40 on Thursday. PENN Entertainment has a one year low of $11.65 and a one year high of $22.36. The company has a market cap of $2.06 billion, a P/E ratio of -2.42, a P/E/G ratio of 0.40 and a beta of 1.39. The firm’s fifty day moving average price is $17.19 and its two-hundred day moving average price is $18.04. The company has a debt-to-equity ratio of 3.79, a current ratio of 0.89 and a quick ratio of 0.89.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) earnings per share. Equities analysts expect that PENN Entertainment will post 1.20 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in PENN Entertainment by 29.6% in the 3rd quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock valued at $51,000 after buying an additional 803 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of PENN Entertainment in the second quarter valued at about $275,000. Nykredit A S bought a new stake in shares of PENN Entertainment in the second quarter valued at about $25,000. Corient Private Wealth LP grew its stake in shares of PENN Entertainment by 81.8% in the second quarter. Corient Private Wealth LP now owns 59,891 shares of the company’s stock valued at $1,279,000 after acquiring an additional 26,950 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of PENN Entertainment by 12.9% during the 2nd quarter. HighTower Advisors LLC now owns 21,535 shares of the company’s stock worth $460,000 after purchasing an additional 2,461 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

About PENN Entertainment

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and hotels, offering casino gaming, sports wagering, dining, live entertainment and other hospitality services. Its property portfolio includes regional gaming destinations serving customers across the United States.

PENN also develops and operates digital gaming products, including online sports betting and iCasino services. Its digital operations have included the ESPN BET sportsbook, developed through a strategic relationship with ESPN, as well as theScore Bet, supported by the company’s acquisition of Canadian digital media and sports betting business theScore.