Barclays Cuts PENN Entertainment (NASDAQ:PENN) Price Target to $26.00

PENN Entertainment (NASDAQ:PENN) had its price target cut by Barclays from $27.00 to $26.00 in a research note released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Macquarie lowered their target price 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. Benchmark started coverage on shares of PENN Entertainment in a report on Tuesday, April 16th. They issued a hold rating on the stock. Truist Financial reduced their price target on PENN Entertainment from $27.00 to $23.00 and set a hold rating for the company in a report on Friday, February 16th. Morgan Stanley upped their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Finally, Mizuho assumed coverage on PENN Entertainment in a research note on Tuesday, March 26th. They set a buy rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $29.80.

PENN Entertainment Stock Up 2.5 %

PENN Entertainment stock opened at $16.54 on Friday. The company has a fifty day simple moving average of $17.98 and a 200 day simple moving average of $21.47. PENN Entertainment has a 1-year low of $15.88 and a 1-year high of $31.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The company has a market cap of $2.52 billion, a P/E ratio of -4.54 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last posted 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 the consensus estimate of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. Research analysts anticipate that PENN Entertainment will post -0.86 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Guggenheim Capital LLC increased its holdings in shares of PENN Entertainment by 1.1% during the first quarter. Guggenheim Capital LLC now owns 39,364 shares of the company’s stock worth $1,670,000 after purchasing an additional 431 shares during the period. National Bank of Canada FI increased its stake in PENN Entertainment by 12.6% during the 3rd quarter. National Bank of Canada FI now owns 4,162 shares of the company’s stock worth $94,000 after acquiring an additional 466 shares during the period. Canada Pension Plan Investment Board raised its holdings in PENN Entertainment by 44.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,592 shares of the company’s stock valued at $68,000 after acquiring an additional 493 shares in the last quarter. Tyler Stone Wealth Management raised its holdings in PENN Entertainment by 34.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock valued at $45,000 after acquiring an additional 500 shares in the last quarter. Finally, Jump Financial LLC lifted its position in shares of PENN Entertainment by 1.4% during the 3rd quarter. Jump Financial LLC now owns 36,289 shares of the company’s stock valued at $833,000 after acquiring an additional 510 shares during the period. 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.