PENN Entertainment (NASDAQ:PENN) Given New $32.00 Price Target at Mizuho

PENN Entertainment (NASDAQ:PENN) had its price target upped by equities research analysts at Mizuho from $29.00 to $32.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Mizuho’s target price points to a potential upside of 111.57% from the stock’s current price.

Several other research firms have also recently weighed in on PENN. Stifel Nicolaus decreased their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Morgan Stanley raised their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. StockNews.com cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Canaccord Genuity Group decreased their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.93.

PENN Entertainment Price Performance

NASDAQ PENN opened at $15.13 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $29.38. The company has a market capitalization of $2.30 billion, a PE ratio of -2.03 and a beta of 2.06. The firm’s 50 day moving average is $17.44 and its 200-day moving average is $21.16.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.39%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. Equities research analysts anticipate that PENN Entertainment will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position 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 acquiring an additional 1,072 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of PENN Entertainment in the fourth quarter valued at about $32,000. Lindbrook Capital LLC boosted its position 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 acquiring an additional 553 shares during the period. Neo Ivy Capital Management bought a new stake in shares of PENN Entertainment in the fourth quarter valued at about $40,000. Finally, Signaturefd LLC boosted its position 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 acquiring an additional 727 shares during the period. 91.69% of the stock is owned by institutional investors.

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.