PENN Entertainment (NASDAQ:PENN) Price Target Raised to $26.00

PENN Entertainment (NASDAQ:PENN) had its price objective upped by JPMorgan Chase & Co. from $23.00 to $26.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the company. Barclays boosted their price target on PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Zacks Research raised PENN Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Susquehanna lifted their price objective on PENN Entertainment from $24.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, July 1st. Stifel Nicolaus boosted their target price on PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Finally, Mizuho boosted their target price on PENN Entertainment from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.62.

PENN Entertainment Stock Performance

Shares of PENN opened at $20.57 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. PENN Entertainment has a 52-week low of $11.65 and a 52-week high of $22.36. The company has a 50-day simple moving average of $19.67 and a 200-day simple moving average of $16.33. The company has a market capitalization of $2.75 billion, a PE ratio of -3.06, a P/E/G ratio of 0.65 and a beta of 1.42.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data 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 firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that PENN Entertainment will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

Several large investors have recently modified their holdings of the business. Treasurer of the State of North Carolina raised its position in shares of PENN Entertainment by 1.1% during the second quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock worth $1,245,000 after purchasing an additional 745 shares during the period. GAMMA Investing LLC boosted its position in shares of PENN Entertainment by 19.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $118,000 after purchasing an additional 895 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of PENN Entertainment by 3.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,730 shares of the company’s stock valued at $394,000 after purchasing an additional 922 shares during the period. IFP Advisors Inc increased its stake in 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 purchasing an additional 1,196 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in PENN Entertainment by 8.1% in the 2nd quarter. Tidal Investments LLC now owns 19,689 shares of the company’s stock worth $352,000 after purchasing an additional 1,483 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.