PENN Entertainment Inc [NASDAQ: PENN] stock went on a downward path that fall over -3.25% on Monday, amounting to a one-week price decrease of less than -1.46%. The company report on November 2, 2023 at 7:00 AM that PENN Entertainment Reports Third Quarter Results.
PENN Entertainment, Inc. (“PENN” or the “Company”) (Nasdaq: PENN) today reported financial results for the three and nine months ended September 30, 2023.
Jay Snowden, Chief Executive Officer and President, said: “Our property level performance was stable in the third quarter reflecting solid results from our rated traditional core customer. We continued to see relative strength in several locations, including our casinos in Ohio, Kansas, Massachusetts, and Missouri, which highlights the benefits of our geographically diversified portfolio of premier regional gaming assets and the addition of retail sports betting offerings at many of our properties. Third quarter Interactive segment results reflect curtailed marketing in the U.S. as we prepared to transition our online sportsbook to the ESPN BET brand. Finally, we are excited to announce that we plan to simultaneously launch ESPN BET on November 14 across the 17 states in which we operate online sports betting, subject to final approvals. This strategic alliance is expected to further expand our digital ecosystem and drive re-engagement with the millions of customers in our digital and retail databases, leading to compelling cross-sell opportunities.
Over the last 12 months, PENN stock dropped by -33.80%. The one-year PENN Entertainment Inc stock forecast points to a potential upside of 21.45. The average equity rating for PENN stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.48 billion, with 152.90 million shares outstanding and 149.26 million shares in the current float. Compared to the average trading volume of 5.14M shares, PENN stock reached a trading volume of 6918628 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on PENN Entertainment Inc [PENN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PENN shares is $29.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PENN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
CapitalOne have made an estimate for PENN Entertainment Inc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on October 12, 2023.
The Average True Range (ATR) for PENN Entertainment Inc is set at 1.06, with the Price to Sales ratio for PENN stock in the period of the last 12 months amounting to 0.53. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 8.84. Price to Free Cash Flow for PENN in the course of the last twelve months was 5.54 with Quick ratio for the last quarter at 1.41.
PENN Stock Performance Analysis:
PENN Entertainment Inc [PENN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.46. With this latest performance, PENN shares gained by 13.97% in over the last four-week period, additionally sinking by -6.56% over the last 6 months – not to mention a drop of -33.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PENN stock in for the last two-week period is set at 57.27, with the RSI for the last a single of trading hit 59.19, and the three-weeks RSI is set at 54.87 for PENN Entertainment Inc [PENN]. The present Moving Average for the last 50 days of trading for this stock 21.69, while it was recorded at 23.20 for the last single week of trading, and 25.87 for the last 200 days.
Insight into PENN Entertainment Inc Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and PENN Entertainment Inc [PENN] shares currently have an operating margin of +17.07 and a Gross Margin at +34.41. PENN Entertainment Inc’s Net Margin is presently recorded at +3.47.
Return on Total Capital for PENN is now 6.79, given the latest momentum, and Return on Invested Capital for the company is 1.41. Return on Equity for this stock inclined to 5.77, with Return on Assets sitting at 1.12. When it comes to the capital structure of this company, PENN Entertainment Inc [PENN] has a Total Debt to Total Equity ratio set at 358.81. Additionally, PENN Total Debt to Total Capital is recorded at 78.20, with Total Debt to Total Assets ending up at 63.53. Long-Term Debt to Equity for the company is recorded at 351.98, with the Long-Term Debt to Total Capital now at 76.30.
Reflecting on the efficiency of the workforce at the company, PENN Entertainment Inc [PENN] managed to generate an average of $10,153 per employee. Receivables Turnover for the company is 29.01 with a Total Asset Turnover recorded at a value of 0.32.PENN Entertainment Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.41 and a Current Ratio set at 1.42.
PENN Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PENN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PENN Entertainment Inc go to 23.00%.
PENN Entertainment Inc [PENN] Institutonal Ownership Details
The top three institutional holders of PENN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in PENN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in PENN stock with ownership which is approximately 5.7994%.