PENN Entertainment, Inc. (NASDAQ:PENN) Receives $29.80 Consensus Target Price from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $29.80.

Several brokerages have commented on PENN. Stifel Nicolaus cut their target price on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Benchmark started coverage on PENN Entertainment in a report on Tuesday, April 16th. They issued a “hold” rating for the company. Truist Financial raised PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, April 23rd. Morgan Stanley raised their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays reduced their price target on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, April 19th.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds have recently modified their holdings of the company. K.J. Harrison & Partners Inc purchased a new position in shares of PENN Entertainment during the 1st quarter valued at $934,000. Osborne Partners Capital Management LLC raised its holdings in PENN Entertainment by 4.5% during the first quarter. Osborne Partners Capital Management LLC now owns 119,395 shares of the company’s stock valued at $2,174,000 after acquiring an additional 5,167 shares during the period. Hedges Asset Management LLC raised its holdings in PENN Entertainment by 10.3% during the first quarter. Hedges Asset Management LLC now owns 220,450 shares of the company’s stock valued at $4,014,000 after acquiring an additional 20,500 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of PENN Entertainment by 65.6% in the first quarter. Assenagon Asset Management S.A. now owns 342,539 shares of the company’s stock valued at $6,238,000 after acquiring an additional 135,697 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of PENN Entertainment by 7.6% during the first quarter. Amalgamated Bank now owns 102,277 shares of the company’s stock worth $1,862,000 after purchasing an additional 7,229 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Down 1.9 %

Shares of NASDAQ:PENN opened at $16.86 on Friday. 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 firm has a market capitalization of $2.56 billion, a P/E ratio of -4.63 and a beta of 2.06. The stock has a 50 day moving average price of $17.58 and a 200-day moving average price of $21.33. PENN Entertainment has a 52-week low of $15.88 and a 52-week high of $31.63.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. As a group, equities research analysts anticipate that PENN Entertainment will post -0.9 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.