In yesterday’s Wall Street session, PENN Entertainment Inc. (NASDAQ:PENN) shares traded at $21.77, up 0.32% from the previous session.
18 analysts cover PENN Entertainment Inc. (NASDAQ:PENN), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $44.00 and a low of $27.00, we find $30.00. Given the previous closing price of $21.70, this indicates a potential upside of 38.25 percent. PENN stock price is now -11.51% away from the 50-day moving average and -23.17% away from the 200-day moving average. The market capitalization of the company currently stands at $3.25B.
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The stock has received a hold rating from 11 analysts and a buy rating from 5. Brokers who have rated the stock have averaged $33.07 as their price target over the next twelve months.
With the price target reduced from $33 to $30, Truist Downgraded its rating from Buy to Hold for PENN Entertainment Inc. (NASDAQ: PENN).
In other news, Hendrix Felicia, EVP and CFO bought 11,162 shares of the company’s stock on Sep 06. The stock was bought for $250,140 at an average price of $22.41. Upon completion of the transaction, the EVP and CFO now directly owns 27,975 shares in the company, valued at $0.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 23, Director HANDLER DAVID A bought 19,562 shares of the business’s stock. A total of $443,079 was incurred on buying the stock at an average price of $22.65. This leaves the insider owning 207,072 shares of the company worth $4.51 million. Insiders disposed of 292,410 shares of company stock worth roughly $6.37 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PENN stock. A new stake in PENN Entertainment Inc. shares was purchased by LONG POND CAPITAL, LP during the first quarter worth $67,523,000. NOMURA HOLDINGS INC invested $27,152,000 in shares of PENN during the first quarter. In the first quarter, RUBRIC CAPITAL MANAGEMENT LP acquired a new stake in PENN Entertainment Inc. valued at approximately $2,992,000. STATE OF TENNESSEE, TREASURY DEPARTMENT acquired a new stake in PENN for approximately $1,971,000. ALASKA PERMANENT FUND CORP purchased a new stake in PENN valued at around $1,938,000 in the second quarter. In total, there are 533 active investors with 85.90% ownership of the company’s stock.
On Tuesday morning PENN Entertainment Inc. (NASDAQ: PENN) stock kicked off with the opening price of $21.67. During the past 12 months, PENN Entertainment Inc. has had a low of $21.42 and a high of $39.35. As of last week, the company has a debt-to-equity ratio of 1.75, a current ratio of 1.40, and a quick ratio of 1.40. According to the stock market information, the enterprise value for the company is $13.65B, which is based on a 5.02 price-to-earnings ratio, a 0.22 price-to-earnings-growth ratio, and a beta of 2.19. The fifty day moving average price for PENN is $24.56 and a two-hundred day moving average price translates $28.26 for the stock.
The latest earnings results from PENN Entertainment Inc. (NASDAQ: PENN) was released for Jun, 2023. According to the Resorts & Casinos Company, earnings per share came in at $0.48, beating analysts’ expectations of $0.42 by 0.06. This compares to $0.14 EPS in the same period last year. The net profit margin was 11.20% and return on equity was 18.90% for PENN. The company reported revenue of $1.67 billion for the quarter, compared to $1.63 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.94 percent. For the current quarter, analysts expect PENN to generate $1.62B in revenue.
PENN Entertainment Inc.(PENN) Company Profile
PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L’Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino. The company’s portfolio also includes MyChoice, customer loyalty program, which offers a set of rewards and experiences for business channels. In addition, it owns various trademarks and service marks, including Ameristar, Argosy, Boomtown, Greektown, Hollywood Casino, Hollywood Gaming, L’Auberge, and M Resort. The company was formerly known as Penn National Gaming, Inc. and changed its name to PENN Entertainment, Inc. in August 2022. PENN Entertainment, Inc. was founded in 1972 and is based in Wyomissing, Pennsylvania.
