PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $26.00 at Barclays

PENN Entertainment (NASDAQ:PENN) had its target price lowered by equities researchers at Barclays from $27.00 to $26.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 56.82% from the company’s current price.

A number of other equities research analysts have also commented on PENN. Stifel Nicolaus reduced their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Truist Financial dropped their price objective on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Needham & Company LLC dropped their price objective on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Morgan Stanley boosted their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PENN Entertainment presently has a consensus rating of “Hold” and a consensus price target of $29.80.

PENN Entertainment Price Performance

PENN stock traded up $0.44 during midday trading on Friday, reaching $16.58. 1,758,690 shares of the stock were exchanged, compared to its average volume of 5,551,857. The company has a fifty day moving average price of $18.12 and a 200 day moving average price of $21.51. PENN Entertainment has a 52 week low of $15.88 and a 52 week high of $31.63. The stock has a market capitalization of $2.53 billion, a PE ratio of -4.55 and a beta of 2.06. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. As a group, analysts expect that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Institutional Trading of PENN Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the stock. Guggenheim Capital LLC raised its stake in shares of PENN Entertainment by 1.1% in the first quarter. Guggenheim Capital LLC now owns 39,364 shares of the company’s stock worth $1,670,000 after purchasing an additional 431 shares during the last quarter. National Bank of Canada FI raised its stake in shares of PENN Entertainment by 12.6% in the third quarter. National Bank of Canada FI now owns 4,162 shares of the company’s stock worth $94,000 after purchasing an additional 466 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of PENN Entertainment by 44.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,592 shares of the company’s stock valued at $68,000 after acquiring an additional 493 shares in the last quarter. Tyler Stone Wealth Management grew its holdings in shares of PENN Entertainment by 34.0% in the third quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock valued at $45,000 after acquiring an additional 500 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of PENN Entertainment by 1.4% in the third quarter. Jump Financial LLC now owns 36,289 shares of the company’s stock valued at $833,000 after acquiring an additional 510 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other 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.