PENN Entertainment (NASDAQ:PENN) PT Lowered to $28.00 at Canaccord Genuity Group

PENN Entertainment (NASDAQ:PENN) had its price objective cut by Canaccord Genuity Group from $32.00 to $28.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on PENN. Mizuho started coverage on shares of PENN Entertainment in a research report on Tuesday, March 26th. They set a buy rating and a $29.00 price target on the stock. Barclays reduced their price target on shares of PENN Entertainment from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Morgan Stanley boosted their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. StockNews.com cut shares of PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus reduced their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PENN Entertainment currently has a consensus rating of Moderate Buy and an average price target of $29.13.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $16.44 on Monday. The company has a market cap of $2.50 billion, a price-to-earnings ratio of -4.52 and a beta of 2.06. The company has a 50-day moving average price of $17.51 and a 200-day moving average price of $21.24. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. PENN Entertainment has a 12 month low of $15.88 and a 12 month high of $31.63.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. As a group, equities analysts anticipate that PENN Entertainment will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Huntington National Bank lifted its position in PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the period. Harbor Investment Advisory LLC bought a new position in PENN Entertainment in the fourth quarter worth approximately $32,000. Lindbrook Capital LLC raised its position 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 acquiring an additional 553 shares during the period. Neo Ivy Capital Management bought a new position in PENN Entertainment in the fourth quarter worth approximately $40,000. Finally, Signaturefd LLC raised its position 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 acquiring an additional 727 shares during the period. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Company Profile

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.