PENN Entertainment (NASDAQ:PENN) Stock Price Expected to Rise, Citigroup Analyst Says

PENN Entertainment (NASDAQ:PENN) had its price target increased by equities researchers at Citigroup from $15.00 to $16.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 7.17% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $21.00 in a report on Friday, November 7th. Canaccord Genuity Group dropped their target price on shares of PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Citizens Jmp reduced their price objective on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Morgan Stanley decreased their price target on shares of PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, January 16th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective on shares of PENN Entertainment in a report on Wednesday, December 24th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.36.

PENN Entertainment Stock Up 0.5%

Shares of NASDAQ:PENN opened at $14.93 on Monday. The company has a 50 day moving average of $13.79 and a 200-day moving average of $15.88. PENN Entertainment has a one year low of $11.65 and a one year high of $20.60. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -2.48, a P/E/G ratio of 0.42 and a beta of 1.33. The company has a debt-to-equity ratio of 3.92, a current ratio of 0.79 and a quick ratio of 0.79.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, February 26th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.30. PENN Entertainment had a negative net margin of 12.11% and a negative return on equity of 1.94%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned ($0.44) EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that PENN Entertainment will post -1.61 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in PENN Entertainment in the 4th quarter valued at $36,000. IFP Advisors Inc boosted its holdings in shares of PENN Entertainment by 76.2% during the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares during the period. Triumph Capital Management acquired a new position in PENN Entertainment in the 3rd quarter valued at about $54,000. Cloud Capital Management LLC acquired a new position in PENN Entertainment in the 3rd quarter valued at about $54,000. Finally, GAMMA Investing LLC raised its holdings in PENN Entertainment by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after acquiring an additional 556 shares during the period. 91.69% of the stock is currently owned by institutional investors.

About PENN Entertainment

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.