PENN Entertainment (NASDAQ:PENN) Price Target Raised to $25.00

PENN Entertainment (NASDAQ:PENN) had its target price lifted by Mizuho from $23.00 to $25.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

PENN has been the topic of a number of other reports. Barclays boosted their target price on shares of PENN Entertainment from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of PENN Entertainment in a research report on Wednesday, June 24th. Truist Financial boosted their price objective on shares of PENN Entertainment from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Wells Fargo & Company dropped their target price on shares of PENN Entertainment from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of PENN Entertainment in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, PENN Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

PENN Entertainment Stock Down 3.3%

PENN stock opened at $20.57 on Wednesday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -3.06, a P/E/G ratio of 0.65 and a beta of 1.42. PENN Entertainment has a twelve month low of $11.65 and a twelve month high of $22.36. The business has a 50 day moving average price of $19.67 and a two-hundred day moving average price of $16.33. 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 (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. PENN Entertainment had a positive return on equity of 0.44% and a negative net margin of 13.55%.The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 EPS. Analysts anticipate that PENN Entertainment will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

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