Citizens Jmp Issues Positive Forecast for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its target price upped by Citizens Jmp from $24.00 to $26.00 in a report issued on Thursday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

A number of other research firms have also weighed in on PENN. Stifel Nicolaus boosted their target price on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 12th. Deutsche Bank Aktiengesellschaft raised their price target on PENN Entertainment from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, April 24th. Susquehanna lifted their price target on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, July 1st. Wells Fargo & Company lowered their price objective on PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Truist Financial increased their price objective on PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, PENN Entertainment presently has an average rating of “Moderate Buy” and an average target price of $22.62.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $21.27 on Thursday. The company has a debt-to-equity ratio of 3.94, a quick ratio of 0.82 and a current ratio of 0.82. PENN Entertainment has a 52-week low of $11.65 and a 52-week high of $22.36. The company has a fifty day moving average of $19.60 and a 200-day moving average of $16.30. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -3.17, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts expect that PENN Entertainment will post 1.02 EPS for the current year.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Quarry LP bought a new stake in shares of PENN Entertainment during the 4th quarter valued at $36,000. IFP Advisors Inc increased its stake in shares of PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after acquiring an additional 1,196 shares in the last quarter. Triumph Capital Management purchased a new position in PENN Entertainment during the 3rd quarter valued at about $54,000. Modus Advisors LLC purchased a new position in PENN Entertainment during the 4th quarter valued at about $47,000. Finally, Hantz Financial Services Inc. boosted its stake in PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after acquiring an additional 2,954 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Key PENN Entertainment News

Here are the key news stories impacting PENN Entertainment this week:

• Positive Sentiment: Citizens JMP raised its price target on PENN Entertainment to $26 from $24 and kept a “market outperform” rating, signaling confidence in further upside. Citizens JMP raises PENN price target
• Positive Sentiment: Mizuho increased its target to $25 from $23 and maintained an “outperform” rating, adding to the bullish analyst momentum. Mizuho raises PENN price target
• Positive Sentiment: JPMorgan Chase & Co. boosted its target to $26 from $23 and kept an “overweight” rating, reinforcing expectations for continued share-price support. JPMorgan raises PENN price target
• Positive Sentiment: Zacks Research upgraded PENN Entertainment from “hold” to “strong-buy,” suggesting improving fundamental or valuation appeal. Zacks upgrades PENN
• Neutral Sentiment: PENN Entertainment expanded its online gaming footprint in Canada, a strategic move that could broaden its digital reach and long-term revenue base. PENN expands online gaming footprint in Canada
• Neutral Sentiment: Mizuho also published a positive forecast for PENN Entertainment, adding to the view that Wall Street sees room for earnings or operating improvement. Mizuho issues positive forecast

PENN Entertainment Company Profile

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.