PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) – Analysts at Jefferies Financial Group raised their first quarter 2023 EPS estimates for PENN Entertainment in a note to investors on Thursday, November 3. Jefferies Financial Group analyst D. Katz now expects the company to report earnings per share of $0.43 for the quarter, up from a previous forecast of $0.41. The consensus estimate for PENN Entertainment’s current full-year earnings is $1.26 per share. Jefferies Financial Group also released estimates for PENN Entertainment’s second-quarter 2023 earnings of $0.54 per share, third-quarter 2023 earnings of $0.45 per share, fiscal 2023 earnings of $1.94 per share and 2 $.05 per share in fiscal 2024.
PENN Entertainment (NASDAQ:PENN – Get Rating) last reported its earnings results on Thursday, August 4th. The company reported earnings per share of $0.15 for the quarter, missing the consensus estimate of $0.51 ($0.36). The company made $1.63 billion in revenue for the quarter, compared to analysts’ expectations of $1.60 billion. PENN Entertainment had a return on equity of 6.29% and a net margin of 3.86%. The company’s revenue rose 5.4% year over year. In the same period last year, the company generated earnings per share of $1.17.
Several other research analysts also recently commented on PENN. Canaccord Genuity Group assumed coverage on shares of PENN Entertainment in a research report on Thursday, October 6th. They gave the stock a “buy” rating. CBRE Group lowered its target price on shares of PENN Entertainment from $57.00 to $54.00 and gave the company a “buy” rating in a report on Friday. Credit Suisse Group lowered its price target for shares of PENN Entertainment from $66.00 to $50.00 and gave the company an outperform rating in a report on Friday. StockNews.com upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating in a report Friday. Finally, Truist Financial lowered its target price on PENN Entertainment shares to $40.00 from $48.00 and gave the company a buy rating in a report dated Tuesday, October 25. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.42.
PENN Entertainment stock performance
PENN Entertainment stock opened at $32.69 on Monday. The company’s 50-day simple moving average is $30.35 and its 200-day simple moving average is $31.99. The company has a market cap of $5.18 billion, a P/E of 23.02, a price-to-earnings-to-growth ratio of 1.79 and a beta of 2.19. The company has a leverage ratio of 1.80, a current ratio of 1.90 and a quick ratio of 1.90. PENN Entertainment has a 52-week low of $25.49 and a 52-week high of $63.57.
Hedge funds rely on PENN Entertainment
Institutional investors and hedge funds have recently bought and sold shares of the stock. San Luis Wealth Advisors LLC bought a $26,000 new position in PENN Entertainment during the first quarter. SJS Investment Consulting Inc. bought a new position in PENN Entertainment valued at $27,000 during the third quarter. Archer Investment Corp increased its position in PENN Entertainment by 1,694.9% during the second quarter. Archer Investment Corp now owns 1,059 shares of the company, valued at $32,000, having purchased an additional 1,000 shares during this period. Emerald Advisers LLC acquired a $33,000 new interest in PENN Entertainment during the third quarter. Finally, Wipfli Financial Advisors LLC purchased a new $39,000 stake in PENN Entertainment during the third quarter. Institutional investors own 82.62% of the company’s shares.
Insider Transactions at PENN Entertainment
Also on Monday, August 15, Director Saul Reibstein sold 5,086 shares of the company’s stock in a transaction. The shares sold at an average price of $38.03 for a total value of $193,420.58. Upon completion of the sale, the Director now directly owns 34,663 shares of the Company, valued at $1,318,233.89. The sale was disclosed in a filing with the Securities & Exchange Commission available at this link. 1.50% of the shares are owned by company insiders.
Company Profile of PENN Entertainment
PENN Entertainment, Inc, along 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 44 properties in 20 states; Online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L’Auberge, Barstool Sportsbook and theScore Bet.
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