PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating ) has been assigned a consensus recommendation of “Average Buy” from the eighteen brokerages that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $45.06.
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PENN has been the subject of a number of analyst reports. Stifel Nicolaus lowered PENN Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $45.00 to $35.00 in a research report on Friday, January 6th. Truist Financial decreased their price objective on PENN Entertainment from $40.00 to $36.00 in a research report on Wednesday, January 11th. Canaccord Genuity Group assumed coverage on PENN Entertainment in a research report on Thursday, October 6th. They issued a “buy” rating on the stock. Canaccord Genuity Group assumed coverage on PENN Entertainment in a research report on Thursday, October 6th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, JPMorgan Chase & Co cut PENN Entertainment from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $38.00 to $39.00 in a research report on Monday, November 28th.
Insider Buying and Selling at PENN Entertainment
In other news, CEO Jay A. Snowden sold 163,475 shares of the company’s stock in a transaction on Tuesday, December 27th. The stock traded at an average price of $30.12, with a total value of $4,923,867.00. Following the completion of the sale, the chief executive officer now directly owns 604,527 shares in the company, valued at approximately $18,208,353.24. The deal was disclosed in a filing with the Securities and Exchange Commission, available on the SEC’s website. Company insiders hold 1.50% of the company’s shares.
Institutional investors weigh PENN Entertainment
Several hedge funds and other institutional investors have recently modified their holdings of the stock. SJS Investment Consulting Inc. purchased a new stake in PENN Entertainment during the 3rd quarter valued at $27,000. Archer Investment Corp boosted its holdings in PENN Entertainment by 1,694.9% in the 2nd quarter. Archer Investment Corp now owns 1,059 shares of the company’s stock worth $32,000 after buying an additional 1,000 shares during the last quarter. Emerald Advisers LLC purchased a new stake in PENN Entertainment during the 3rd quarter valued at $33,000. Wipfli Financial Advisors LLC purchased a new stake in PENN Entertainment in the 3rd quarter valued at $39,000. Finally, Guardian Wealth Advisors LLC bought a new stake in PENN Entertainment during the 3rd quarter valued at $46,000. 84.40% of the stock is currently owned by hedge funds and other institutional investors.
PENN Entertainment Stock Performance
Shares of PENN stock opened at $34.26 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79, and a debt-to-equity ratio of 1.87. The business has a 50-day moving average of $32.65 and a 200-day moving average of $32.35. PENN Entertainment has a 52-week low of $25.49 and a 52-week high of $51.72. The stock has a market cap 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 issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.72 EPS for the quarter, beating analysts’ 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 firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. equities research analysts predict that PENN Entertainment will post 1.47 earnings per share for the current fiscal year.
PENN Entertainment Company Profile
PENN Entertainment, Inc. owns and operates gaming and racing facilities and video game terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, and others. The Northeast segment consists of properties such as Ameristar East Chicago, Greektown Casino-Hotel and Hollywood Casino Bangor.
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