PENN Entertainment (PENN) Set to Announce Earnings on Thursday

PENN Entertainment (NASDAQ:PENN) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.25) per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. On average, analysts expect PENN Entertainment to post $-1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

PENN Entertainment Stock Down 2.0 %

Shares of NASDAQ PENN opened at $19.06 on Tuesday. The firm has a market capitalization of $2.91 billion, a PE ratio of -2.35 and a beta of 2.09. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20. The firm’s 50-day moving average is $18.96 and its 200-day moving average is $18.28.

Insiders Place Their Bets

In other news, Director Anuj Dhanda bought 15,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now owns 31,523 shares of the company’s stock, valued at $580,023.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Anuj Dhanda purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares in the company, valued at $580,023.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay A. Snowden purchased 54,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 79,200 shares of company stock valued at $1,450,548 over the last ninety days. 2.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PENN has been the topic of a number of analyst reports. Morgan Stanley cut their price target on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Mizuho cut their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Truist Financial cut their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Craig Hallum reiterated a “buy” rating and issued a $30.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PENN Entertainment has a consensus rating of “Hold” and an average price target of $22.89.

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.