Analysts Set PENN Entertainment, Inc. (NASDAQ:PENN) PT at $29.80

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.80.

Several research analysts have weighed in on the company. StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Barclays lowered their price objective 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. Truist Financial raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday. Macquarie lowered their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Finally, Mizuho initiated coverage on shares of PENN Entertainment in a research note on Tuesday, March 26th. They set a “buy” rating and a $29.00 price objective for the company.

PENN Entertainment Trading Up 3.0 %

Shares of PENN Entertainment stock opened at $17.43 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11. PENN Entertainment has a 1 year low of $15.88 and a 1 year high of $31.63. The company has a market capitalization of $2.66 billion, a P/E ratio of -4.79 and a beta of 2.06. The business has a 50 day moving average price of $17.75 and a 200 day moving average price of $21.42.

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 the consensus estimate of ($0.57) by ($1.18). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. Sell-side analysts anticipate that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of PENN. Huntington National Bank increased its stake 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 valued at $32,000 after purchasing an additional 1,072 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $32,000. Lindbrook Capital LLC increased its stake 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 valued at $40,000 after purchasing an additional 553 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $40,000. Finally, Signaturefd LLC increased its stake in shares of PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after purchasing an additional 727 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Company Profile

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.