PENN Entertainment (NASDAQ:PENN) Rating Increased to Overweight at Capital One Financial

Capital One Financial upgraded shares of PENN Entertainment (NASDAQ:PENN) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday morning, Marketbeat reports. They currently have $26.00 target price on the stock.

A number of other research firms have also recently commented on PENN. Truist Financial raised their target price on PENN Entertainment from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group began coverage on PENN Entertainment in a report on Friday, June 26th. They issued a “buy” rating and a $26.00 price target for the company. Zacks Research upgraded PENN Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Citizens Jmp raised their price objective on PENN Entertainment from $24.00 to $26.00 and gave the company a “market outperform” rating in a report on Thursday, July 16th. Finally, Stifel Nicolaus boosted their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PENN Entertainment presently has an average rating of “Moderate Buy” and an average target price of $22.78.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $20.27 on Thursday. The company’s fifty day moving average price is $20.08 and its 200 day moving average price is $16.52. PENN Entertainment has a 1 year low of $11.65 and a 1 year high of $22.36. The company has a market capitalization of $2.71 billion, a PE ratio of -3.02, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. 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 (NASDAQ:PENN) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. On average, research analysts predict that PENN Entertainment will post 1.39 earnings per share for the current year.

Institutional Trading of PENN Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of PENN. Quarry LP purchased a new position in PENN Entertainment in the 4th quarter valued at about $36,000. IFP Advisors Inc increased its stake in 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 in the last quarter. Triumph Capital Management purchased a new stake in PENN Entertainment during the 3rd quarter worth approximately $54,000. Modus Advisors LLC acquired a new position in shares of PENN Entertainment during the fourth quarter valued at approximately $47,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.