Investment Analysts’ Recent Ratings Updates for PENN Entertainment (PENN)

A number of research firms have changed their ratings and price targets for PENN Entertainment (NASDAQ: PENN):

• 4/29/2024 – PENN Entertainment had its price target lowered by analysts at Canaccord Genuity Group Inc. from $32.00 to $28.00. They now have a “buy” rating on the stock.
• 4/23/2024 – PENN Entertainment had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 4/23/2024 – PENN Entertainment was upgraded by analysts at Truist Financial Co. from a “hold” rating to a “buy” rating. They now have a $23.00 price target on the stock.
• 4/19/2024 – PENN Entertainment had its price target lowered by analysts at Barclays PLC from $27.00 to $26.00. They now have an “overweight” rating on the stock.
• 4/16/2024 – PENN Entertainment is now covered by analysts at Benchmark Co.. They set a “hold” rating on the stock.
• 4/9/2024 – PENN Entertainment had its price target raised by analysts at Morgan Stanley from $21.00 to $22.00. They now have an “equal weight” rating on the stock.
• 3/26/2024 – PENN Entertainment is now covered by analysts at Mizuho. They set a “buy” rating and a $29.00 price target on the stock.
• 3/6/2024 – PENN Entertainment was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

PENN Entertainment Trading Up 1.0 %

NASDAQ:PENN opened at $17.03 on Tuesday. The firm has a market capitalization of $2.59 billion, a P/E ratio of -4.68 and a beta of 2.06. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The company has a fifty day moving average of $17.54 and a 200 day moving average of $21.30. PENN Entertainment, Inc. has a 52 week low of $15.88 and a 52 week high of $31.63.

PENN Entertainment (NASDAQ:PENN) last posted its 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 firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. On average, research analysts predict that PENN Entertainment, Inc. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of PENN Entertainment in the 4th quarter worth $42,758,000. ING Groep NV purchased a new position in shares of PENN Entertainment in the 4th quarter worth $32,556,000. Kettle Hill Capital Management LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter worth about $19,792,000. Sei Investments Co. increased its stake in PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after acquiring an additional 725,221 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in PENN Entertainment during the fourth quarter valued at approximately $16,341,000. Institutional investors own 91.69% of the company’s stock.

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.