PENN Entertainment (NASDAQ:PENN) Upgraded at Benchmark

Benchmark upgraded shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a buy rating in a research note released on Thursday morning, MarketBeat.com reports. They currently have $21.00 target price on the stock.

PENN has been the subject of a number of other reports. Citizens Jmp lowered their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PENN Entertainment from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Friday, February 27th. Stifel Nicolaus raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 7th. Canaccord Genuity Group reduced their price objective on PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Finally, Mizuho set a $19.00 price objective on PENN Entertainment in a report on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.47.

PENN Entertainment Price Performance

PENN opened at $14.64 on Thursday. The stock has a market capitalization of $1.96 billion, a P/E ratio of -2.43, a PEG ratio of 0.44 and a beta of 1.33. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 3.92. PENN Entertainment has a 12-month low of $11.65 and a 12-month high of $20.60. The stock has a 50-day moving average price of $13.81 and a 200-day moving average price of $15.82.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PENN. Quarry LP bought a new stake in shares of PENN Entertainment in the 4th quarter worth approximately $36,000. IFP Advisors Inc increased its position in shares of PENN Entertainment by 76.2% during the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after buying an additional 1,196 shares during the period. Modus Advisors LLC bought a new stake in PENN Entertainment during the 4th quarter valued at approximately $47,000. Cloud Capital Management LLC bought a new stake in PENN Entertainment during the 3rd quarter valued at approximately $54,000. Finally, Triumph Capital Management purchased a new position in shares of PENN Entertainment during the 3rd quarter worth approximately $54,000. Institutional investors own 91.69% of the company’s stock.

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.