PENN Entertainment (PENN) to release earnings on Thursday

PENN Entertainment (NASDAQ:PENN – Get Rating) is expected to release quarterly results before market open on Thursday, February 2. Analysts expect PENN Entertainment to post earnings of $0.33 per share for the quarter. PENN Entertainment has set its guidance for fiscal year 2022 at EPS. Those interested in participating in the company’s earnings conference call can do so using this link.

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PENN Entertainment (NASDAQ:PENN – Get Rating) last released its 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. The company posted revenue of $1.63 billion for the quarter, versus a consensus estimate of $1.58 billion. PENN Entertainment had a return on equity of 6.42% and a net margin of 3.86%. On average, analysts expect PENN Entertainment to post EPS of $1 for the current fiscal year and EPS of $2 for the next fiscal year.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $35.45 on Wednesday. The stock has a market capitalization of $5.50 billion, a price/earnings ratio of 24.96, a PEG ratio of 1.63 and a beta of 2.18. PENN Entertainment has a 12-month low of $25.49 and a 12-month high of $51.72. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt ratio of 1.87. The stock has a 50-day moving average of $32.58 and a 200-day moving average of $32.49.

Changes to analyst ratings

Several equity research analysts have recently commented on the company. Canaccord Genuity Group began covering PENN Entertainment in a research note on Thursday, October 6. They set a “buy” rating on the stock. StockNews.com downgraded PENN Entertainment shares from a “buy” rating to a “hold” rating in a Saturday, Nov. 12 research rating. Credit Suisse Group lowered its price target on PENN Entertainment shares from $66.00 to $50.00 and set an “outperform” rating for the company in a Friday, Nov. 4, report. JPMorgan Chase & Co. cut shares of PENN Entertainment from an “overweight” rating to a “neutral” rating and raised its target price for the stock from $38.00 to $39.00 in a Monday report November 28. Finally, Wells Fargo & Company raised its price target on PENN Entertainment stock from $32.00 to $33.00 and gave the stock an “equal weight” rating in a Wednesday 25 research report. January. Nine analysts gave the stock a hold rating and nine gave the stock a buy rating. According to data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.06.

Insider Trading at PENN Entertainment

In related news, CEO Jay A. Snowden sold 163,475 shares of PENN Entertainment in a trade on Tuesday, December 27. The shares were 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 owns 604,527 shares of the company, valued at approximately $18,208,353.24. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Insiders own 1.50% of the shares of the company.

Institutional investors weigh in on PENN Entertainment

A number of large investors have recently increased or reduced their stake in the company. Charles Schwab Investment Management Inc. increased its stake in PENN Entertainment by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,882,461 shares of the company worth $79,854,000 after buying 97,988 additional shares in the last quarter. Renaissance Technologies LLC increased its equity stake in PENN Entertainment to 79.3% in the first quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company worth $75,891,000 after purchasing an additional 791,500 shares last quarter. Earnest Partners LLC increased its stake in PENN Entertainment by 42.8% during the first quarter. Earnest Partners LLC now owns 1,662,997 shares of the company valued at $70,544,000 after purchasing an additional 498,084 shares last quarter. Northern Trust Corp increased its stake in PENN Entertainment by 0.9% during the first quarter. Northern Trust Corp now owns 1,299,147 shares of the company valued at $55,109,000 after buying an additional 11,269 shares last quarter. Finally, Dimensional Fund Advisors LP increased its position in PENN Entertainment by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 902,639 shares of the company valued at $38,301,000 after acquiring an additional 150,284 shares in the last quarter. Institutional investors hold 84.40% of the company’s shares.

About PENN Entertainment

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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.

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