PENN Entertainment Inc [PENN] stock is trading at $18.30, up 2.87%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The PENN shares have gain 2.64% over the last week, with a monthly amount glided 3.80%, and seem to be holding up well over a long-time horizon.
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On 11, March 2024, ESPN BET Launches in North Carolina. In a post published today on Yahoo Finance, ESPN BET, the official sportsbook of ESPN, launched today in North Carolina as the state’s legal sports betting market opened. Fans in the state now have access to the state-of-the-art mobile and web betting platform, which offers a variety of markets across sports and leagues from around the world, including straight bets, cross-sport parlays, props, and in-game wagering, along with daily odds boosts, custom offers, exclusive promotions and integrations with ESPN content and personalities. ESPN BET, operated by PENN Entertainment (“PENN”) (Nasdaq: PENN), is now live in 18 states.
From an analyst’s perspective:
PENN Entertainment Inc [NASDAQ: PENN] stock has seen the most recent analyst activity on March 26, 2024, when Mizuho initiated its Buy rating and assigned the stock a price target of $29. Previously, BofA Securities upgraded its rating to Buy on November 20, 2023, and elevated its price target to $30. On October 12, 2023, CapitalOne initiated with a Equal Weight rating and assigned a price target of $25 on the stock. Truist downgraded its rating to a Hold and decreased its price target to $30 on August 10, 2023. Craig Hallum downgraded its rating to a Hold and reduced its price target to $30 on August 10, 2023. ROTH MKM upgraded its rating to Buy for this stock on May 02, 2023, and upped its price target to $40. In a note dated April 21, 2023, Barclays reiterated an Overweight rating on this stock and revised its target price from $39 to $36.
PENN Entertainment Inc [PENN] stock has fluctuated between $16.46 and $31.63 over the past year. Currently, Wall Street analysts expect the stock to reach $55.5 within the next 12 months. PENN Entertainment Inc [NASDAQ: PENN] shares were valued at $18.30 at the most recent close of the market. An investor can expect a potential return of 203.28% based on the average PENN price forecast.
Analyzing the PENN fundamentals
PENN Entertainment Inc [NASDAQ:PENN] reported sales of 6.36B for the trailing twelve months, which represents a drop of -12.00%. Gross Profit Margin for this corporation currently stands at 0.35% with Operating Profit Margin at -0.09%, Pretax Profit Margin comes in at -0.08%, and Net Profit Margin reading is -0.08%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.13 and Total Capital is -0.04. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.0.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 17.83 points at the first support level, and at 17.37 for the second support level. However, for the 1st resistance point, the stock is sitting at 18.53, and for the 2nd resistance point, it is at 18.77.
PENN Entertainment Inc [PENN] reported earnings per share of -$2.37 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.51/share, meaning a difference of -$1.86 and a surprise factor of -364.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$4.8 per share as compared to estimates of $0.36 per share, a difference of -$5.16 representing a surprise of -1,433.30%.
Ratios To Look Out For
For context, PENN Entertainment Inc’s Current Ratio is 1.11. Also, the Quick Ratio is 1.11, while the Cash Ratio stands at 0.72. Considering the valuation of this stock, the price to sales ratio is 0.44, the price to book ratio is 0.87.
Transactions by insiders
Recent insider trading involved Rogers Christopher Byron, EVP and Chief Strategy Officer, that happened on Jan 03 ’24 when 5017.0 shares were sold. President and CEO, Snowden Jay A completed a deal on Dec 26 ’23 to sell 0.17 million shares. Meanwhile, Director SCACCETTI JANE bought 4400.0 shares on Nov 06 ’23.
