Streetbeat News

PENN

PENN Entertainment, Inc.

https://www.pennentertainment.com

Industry

Gambling, Resorts & Casinos

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 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. 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.

Open

20.72

Mkt cap

3.2B

Volume

High

20.84

P/E Ratio

-5.90

52-wk high

27.21

Low

20.37

Div yield

N/A

52-wk low

13.50

Mizuho analyst Ben Chaiken has initiated coverage on PENN Entertainment (NASDAQ:PENN) with a Buy rating and set a price target of $29.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 11:40 am

PENN Entertainment's (NYSE:PENN) short interest has increased by 19.53% since the last report, with 21.09 million shares sold short, representing 16.28% of its float. This indicates a bearish market sentiment towards PENN, although it's higher than its peer group average of 3.43% short interest. The article suggests that while increased short interest signals bearish sentiment, it can also be bullish under certain conditions.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 6:45 pm

Today's session highlighted significant whale activity in the options market for 10 consumer discretionary stocks, indicating potential trading opportunities. The activity involved both bullish and bearish sentiments across various stocks, including notable companies like Tesla, Amazon, and Nike. The transactions, which ranged from put and call options, sweeps to trades, suggest diverse market expectations and strategies among large investors.

Portfolio Pulse from Benzinga Insights

March 14, 2024 | 5:35 pm

PENN Entertainment's (NYSE:PENN) short interest has increased by 19.53% since the last report, with 21.09 million shares sold short, representing 16.28% of its float. This indicates a bearish market sentiment towards PENN, although it's higher than its peer group average of 3.36% short interest. The article suggests that while increased short interest signals bearish sentiment, it can also be bullish under certain conditions.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 1:45 pm

Recent analyst ratings for PENN Entertainment (NASDAQ:PENN) show a diverse range of perspectives, with a notable decline in the average 12-month price target to $27.5, down 5.17% from the previous average. Analysts from firms including Morgan Stanley, Stifel, Truist Securities, Macquarie, and Needham have adjusted their ratings and price targets, reflecting changing market conditions and company performance. PENN's financial indicators suggest challenges in revenue growth, profitability, and asset utilization, with a revenue decline of -12.0% as of December 31, 2023, and below-industry benchmarks in net margin and ROE.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 7:00 pm

Morgan Stanley analyst Dara Mohsenian maintains an Equal-Weight rating on PENN Entertainment (NASDAQ:PENN) and lowers the price target from $23 to $21.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:04 pm

DraftKings Inc (NASDAQ:DKNG) announced its Q4 financial results, increased 2024 guidance, and revealed a partnership with Barstool Sports following its re-acquisition by founder Dave Portnoy from PENN Entertainment (NASDAQ:PENN). This partnership, along with a new deal with LeBron James and the acquisition of Jackpocket, is poised to boost DraftKings' growth. The Jackpocket acquisition, expected to close in the second half of 2024, is anticipated to diversify DraftKings' portfolio and enhance customer acquisition, with significant revenue and EBITDA impact projected for 2026.

Portfolio Pulse from Chris Katje

February 21, 2024 | 3:51 pm

PENN Entertainment Inc (NASDAQ:PENN) reported Q4 financial results, with analysts focusing on the future growth of ESPN Bet. Analysts from Macquarie, Needham, Stifel, and JMP Securities provided insights, highlighting the high investment levels and losses in the digital segment but also noting the potential for future growth and market share gains. The integration of ESPN Bet with ESPN, licensed from Walt Disney Co (NYSE:DIS), is seen as a positive step. PENN shares have seen a decline, reflecting investor concerns and the high costs associated with the ESPN Bet launch.

Portfolio Pulse from Chris Katje

February 16, 2024 | 5:43 pm

PENN Entertainment (NASDAQ:PENN) reported Q4 results below expectations with revenue of $1.4 billion against a consensus of $1.53 billion and a loss of $1.75 per share versus an expected loss of 52 cents. The company's shares dropped 13.8% following the announcement. Analysts from Needham and Macquarie adjusted their price targets for PENN, with Needham reducing it from $33 to $32 and maintaining a Buy rating, and Macquarie cutting it from $35 to $33 while keeping an Outperform rating.

Portfolio Pulse from Avi Kapoor

February 16, 2024 | 1:57 pm

Macquarie analyst Chad Beynon maintains an Outperform rating on PENN Entertainment (NASDAQ:PENN) but lowers the price target from $35 to $33.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:46 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.