PENN Entertainment (NASDAQ:PENN) Receives “Market Perform” Rating from JMP Securities

PENN Entertainment (NASDAQ:PENN)‘s stock had its “market perform” rating reissued by stock analysts at JMP Securities in a report released on Tuesday, Benzinga reports.

Several other research analysts have also commented on the company. Stifel Nicolaus dropped their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Morgan Stanley lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Benchmark assumed coverage on PENN Entertainment in a research report on Tuesday, April 16th. They issued a “hold” rating for the company. Mizuho assumed coverage on shares of PENN Entertainment in a research note on Tuesday, March 26th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Barclays decreased their price objective on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.80.

PENN Entertainment Trading Up 2.4 %

Shares of PENN Entertainment stock opened at $17.84 on Tuesday. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -4.90 and a beta of 2.06. The business has a 50-day moving average price of $17.65 and a 200-day moving average price of $21.39. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. PENN Entertainment has a twelve month low of $15.88 and a twelve month high of $31.63.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. Equities research analysts anticipate that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Large investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC bought a new position in PENN Entertainment in the fourth quarter worth approximately $32,000. Huntington National Bank raised its stake in PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares in the last quarter. Lindbrook Capital LLC raised its stake in PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares in the last quarter. Neo Ivy Capital Management bought a new position in PENN Entertainment in the fourth quarter worth approximately $40,000. Finally, Signaturefd LLC raised its stake in PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after buying an additional 727 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.