PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of “Hold” from Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has earned an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $23.83.

Several analysts recently issued reports on PENN shares. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, June 4th. Stifel Nicolaus boosted their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Bank of America lowered shares of PENN Entertainment from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $28.00 to $17.50 in a report on Monday, May 13th. Raymond James downgraded shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, Macquarie restated an “outperform” rating and set a $26.00 price target on shares of PENN Entertainment in a research note on Friday, August 9th.

PENN Entertainment Stock Up 0.4 %

Shares of NASDAQ PENN opened at $18.62 on Friday. The company has a market capitalization of $2.84 billion, a P/E ratio of -2.50 and a beta of 2.11. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day simple moving average of $19.06 and a 200-day simple moving average of $17.93. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that PENN Entertainment will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after buying an additional 1,009 shares during the period. Lindbrook Capital LLC grew its holdings in PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after acquiring an additional 553 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of PENN Entertainment in the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp acquired a new stake in shares of PENN Entertainment in the 2nd quarter valued at $83,000. Finally, Quarry LP lifted its position in shares of PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after purchasing an additional 1,862 shares during the last quarter. 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.