PENN Entertainment, Inc. (NASDAQ:PENN) Expected to Post FY2022 Earnings of $1.43 Per Share

PENN Entertainment, Inc. (NASDAQ:PENNGet Rating) – Equities researchers at Jefferies Financial Group cut their FY2022 EPS estimates for shares of PENN Entertainment in a research note issued to investors on Monday, January 9th. Jefferies Financial Group analyst D. Katz now forecasts that the company will post earnings of $1.43 per share for the year, down from their prior forecast of $1.49. Jefferies Financial Group currently has a “Hold” rating and a $34.00 price target on the stock. The consensus estimate for PENN Entertainment’s current full-year earnings is $1.49 per share. Jefferies Financial Group also issued estimates for PENN Entertainment’s Q4 2022 earnings at $0.29 EPS and Q1 2023 earnings at $0.39 EPS.

A number of other equities analysts have also weighed in on PENN. Bank of America lowered their target price on PENN Entertainment from $40.00 to $35.00 in a research report on Wednesday, January 4th. Truist Financial dropped their price objective on shares of PENN Entertainment from $40.00 to $36.00 in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of PENN Entertainment from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $38.00 to $39.00 in a research report on Monday, November 28th. Morgan Stanley began coverage on shares of PENN Entertainment in a research report on Monday, November 21st. They issued an “equal weight” rating and a $36.00 price target on the stock. Finally, Stifel Nicolaus lowered PENN Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $45.00 to $35.00 in a report on Friday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.61.

PENN Entertainment Stock Up 3.2 %

Shares of NASDAQ:PENN opened at $32.52 on Thursday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.79 and a current ratio of 1.79. PENN Entertainment has a 52-week low of $25.49 and a 52-week high of $51.72. The business’s 50 day simple moving average is $33.06 and its two-hundred day simple moving average is $32.23. The firm has a market cap of $5.04 billion, a P/E ratio of 22.90, a PEG ratio of 1.37 and a beta of 2.18.

PENN Entertainment (NASDAQ:PENNGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.34. PENN Entertainment had a net margin of 3.86% and a return on equity of 6.42%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors have recently bought and sold shares of the company. HG Vora Capital Management LLC raised its stake in PENN Entertainment by 114.3% in the 3rd quarter. HG Vora Capital Management LLC now owns 7,500,000 shares of the company’s stock valued at $206,325,000 after acquiring an additional 4,000,000 shares during the period. Contrarius Investment Management Ltd bought a new stake in shares of PENN Entertainment in the second quarter valued at approximately $75,776,000. Bank of Nova Scotia purchased a new stake in shares of PENN Entertainment during the 2nd quarter valued at approximately $65,983,000. Long Pond Capital LP bought a new position in PENN Entertainment in the 2nd quarter worth approximately $38,990,000. Finally, Renaissance Technologies LLC grew its stake in PENN Entertainment by 79.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock valued at $75,891,000 after buying an additional 791,500 shares in the last quarter. Hedge funds and other institutional investors own 84.40% of the company’s stock.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden sold 163,475 shares of PENN Entertainment stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $30.12, for a total value of $4,923,867.00. Following the sale, the chief executive officer now owns 604,527 shares of the company’s stock, valued at $18,208,353.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

PENN Entertainment Company Profile

(Get Rating)

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet.

Featured Articles

Earnings History and Estimates for PENN Entertainment (NASDAQ:PENN)

Receive News & Ratings for PENN Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PENN Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.