PENN Entertainment (NASDAQ:PENN) Given Hold Rating at Benchmark

Benchmark reiterated their hold rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note published on Monday morning,Benzinga reports.

Several other research firms also recently issued reports on PENN. Stifel Nicolaus reduced their price target on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Truist Financial dropped their target price on PENN Entertainment from $23.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC decreased their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Macquarie reaffirmed an “outperform” rating and set a $26.00 price target on shares of PENN Entertainment in a research report on Friday, February 28th. Finally, Mizuho dropped their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, May 12th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PENN Entertainment has an average rating of “Hold” and a consensus target price of $22.91.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $15.45 on Monday. PENN Entertainment has a 52 week low of $13.25 and a 52 week high of $23.08. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -4.35, a PEG ratio of 1.55 and a beta of 1.81. The company has a 50-day simple moving average of $15.72 and a 200 day simple moving average of $18.60. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted ($0.76) earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, sell-side analysts predict that PENN Entertainment will post -1.61 earnings per share for the current year.

Hedge Funds Weigh In On PENN Entertainment

Large investors have recently bought and sold shares of the company. Invesco Ltd. grew its holdings in shares of PENN Entertainment by 54.6% during the first quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock worth $97,905,000 after purchasing an additional 2,120,740 shares during the last quarter. Contrarius Group Holdings Ltd acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $34,994,000. Norges Bank bought a new stake in PENN Entertainment during the 4th quarter worth approximately $27,901,000. SG Americas Securities LLC acquired a new position in PENN Entertainment in the 4th quarter valued at approximately $27,805,000. Finally, Raymond James Financial Inc. bought a new position in shares of PENN Entertainment during the fourth quarter valued at $17,804,000. 91.69% of the stock is currently owned by institutional investors.

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.