PENN Entertainment (NASDAQ:PENN) Price Target Raised to $22.00 at Jefferies Financial Group

PENN Entertainment (NASDAQ:PENN) had its target price boosted by Jefferies Financial Group from $21.00 to $22.00 in a research report report published on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts have also recently weighed in on PENN. Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, November 8th. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price target for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Macquarie boosted their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Barclays lowered their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, PENN Entertainment has a consensus rating of “Hold” and an average price target of $23.44.

PENN Entertainment Trading Down 2.5 %

PENN opened at $18.76 on Friday. The company has a market cap of $2.86 billion, a P/E ratio of -5.28 and a beta of 2.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The company’s 50 day moving average is $19.99 and its 200-day moving average is $19.32. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $25.53.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) 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 $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Equities research analysts predict that PENN Entertainment will post -1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of PENN Entertainment in the 3rd quarter valued at about $45,000. GAMMA Investing LLC grew its stake in PENN Entertainment by 88.5% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after acquiring an additional 1,275 shares during the period. Quest Partners LLC bought a new stake in shares of PENN Entertainment during the third quarter valued at approximately $56,000. International Assets Investment Management LLC raised its position in shares of PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares during the period. Finally, Modus Advisors LLC bought a new position in shares of PENN Entertainment in the 4th quarter worth $63,000. 91.69% of the stock is 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.