PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus ‘Moderate Buy’ Rating from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) received a consensus “moderate buy” recommendation from the eighteen brokerages that cover the company, reports MarketBeat Ratings. Eight equity research analysts rated the stock with a hold recommendation and eight gave the company a buy recommendation. The 12-month average price target among analysts who have covered the stock over the past year is $45.06.

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PENN has been the subject of a number of analyst reports. Stifel Nicolaus upgraded PENN Entertainment from a “buy” rating to a “hold” rating and lowered his price target for the stock from $45.00 to $35.00 in a Friday, January 6 research report . Truist Financial lowered its price target on PENN Entertainment from $40.00 to $36.00 in a Wednesday, January 11 research report. Canaccord Genuity Group assumed coverage from PENN Entertainment in a research report on Thursday, October 6. They issued a “buy” rating on the stock. Canaccord Genuity Group assumed coverage from PENN Entertainment in a research report on Thursday, October 6. They issued a “buy” rating and a price target of $50.00 on the stock. Finally, JPMorgan Chase & Co. downgraded PENN Entertainment from an “overweight” rating to a “neutral” rating and raised its price target for the company from $38.00 to $39.00 in a research report. Monday, November 28.

Insider Buying and Selling at PENN Entertainment

In other news, CEO Jay A. Snowden sold 163,475 shares of the company in a trade on Tuesday, December 27. The stock was sold at an average price of $30.12, for a total value of $4,923,867.00. Following the completion of the sale, the CEO now directly owns 604,527 shares of the company, valued at approximately $18,208,353.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders of the company hold 1.50% of the shares of the company.

Institutional investors weigh in on PENN Entertainment

Several hedge funds and other institutional investors have recently changed their stock holdings. SJS Investment Consulting Inc. acquired a new stake in PENN Entertainment in Q3 worth $27,000. Archer Investment Corp increased its stake in PENN Entertainment by 1,694.9% in Q2. Archer Investment Corp now owns 1,059 shares of the company worth $32,000 after buying an additional 1,000 shares in the last quarter. Emerald Advisers LLC purchased a new stake in PENN Entertainment in Q3 for $33,000. Wipfli Financial Advisors LLC bought a new stake in PENN Entertainment in Q3 for $39,000. Finally, Guardian Wealth Advisors LLC purchased a new stake in PENN Entertainment in Q3 for $46,000. 84.40% of the shares are currently held by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

PENN shares opened at $34.26 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt ratio of 1.87. The company’s 50-day moving average price is $32.65 and its 200-day moving average price is $32.35. PENN Entertainment has a 52-week minimum of $25.49 and a 52-week maximum of $51.72. The stock has a market capitalization of $5.31 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.63 and a beta of 2.18.

PENN Entertainment (NASDAQ:PENN – Get Rating) last released its quarterly results on Thursday, November 3. The company reported EPS of $0.72 for the quarter, beating analyst consensus estimates of $0.38 by $0.34. PENN Entertainment had a return on equity of 6.42% and a net margin of 3.86%. The company posted revenue of $1.63 billion for the quarter, versus $1.58 billion for analysts. Equity research analysts expect PENN Entertainment to post 1.47 earnings per share for the current fiscal year.

PENN Entertainment Company Profile

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PENN Entertainment, Inc. owns and operates gaming and racing facilities and video game terminal operations with an emphasis on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest and Others. The Northeast segment includes properties such as Ameristar East Chicago, Greektown Casino-Hotel and Hollywood Casino Bangor.

Further reading

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