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PENN Entertainment Inc. (NASDAQ: PENN) Defies Bearish Expectations and Displays Strong Future Potential

In the last trading session, 6.96 million PENN Entertainment Inc. (NASDAQ:PENN) shares changed hands as the company’s beta touched 2.19. With the company’s per share price at $23.52 changed hands at $0.2 or 0.86% during last session, the market valuation stood at $3.51B. PENN’s last price was a discount, traded about -67.3% off its 52-week high of $39.35. The share price had its 52-week low at $21.32, which suggests the last value was 9.35% up since then. When we look at PENN Entertainment Inc.’s average trading volume, we note the 10-day average is 5.37 million shares, with the 3-month average coming to 5.13 million.

Analysts gave the PENN Entertainment Inc. (PENN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 19 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 11 recommended PENN as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. PENN Entertainment Inc.’s EPS for the current quarter is expected to be $0.35.

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PENN Entertainment Inc. (NASDAQ:PENN) trade information

Instantly PENN was in green as seen at the end of in last trading. With action 6.19%, the performance over the past five days has been green. The jump to weekly highs of 23.83 on Friday, 09/15/23 added 0.86% to the stock’s daily price. The company’s shares are showing year-to-date downside of -20.81%, with the 5-day performance at 6.19% in the green. However, in the 30-day time frame, PENN Entertainment Inc. (NASDAQ:PENN) is 1.16% up. Looking at the short shares, we see there were 14.75 million shares sold at short interest cover period of 1.98 days.

The consensus price target for the stock as assigned by Wall Street analysts is $32.88, meaning bulls need an upside of 28.47% from its current market value. According to analyst projections, PENN’s forecast low is $27.00 with $44.00 as the target high. To hit the forecast high, the stock’s price needs a -87.07% plunge from its current level, while the stock would need to soar -14.8% for it to hit the projected low.

PENN Entertainment Inc. (PENN) estimates and forecasts

Data shows that the PENN Entertainment Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -14.84% over the past 6 months, a 198.45% in annual growth rate that is considerably higher than the industry average of 4.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for PENN Entertainment Inc. will fall -51.40%, while the growth in revenue is estimated to hit -184.60% for the next quarter. Year-over-year growth is forecast to reach 2.60% up from the last financial year.

Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $1.62 billion. 13 analysts are of the opinion that PENN Entertainment Inc.’s revenue for the quarter ending Dec 2023 will be $1.6 billion. The company’s revenue for the corresponding quarters a year ago was $1.59 billion and $1.59 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 2.20%. The estimates for the next quarter sales put growth at 0.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -30.70%. The 2023 estimates are for PENN Entertainment Inc. earnings to decrease by -47.50%, but the outlook for the next 5-year period is at 23.00% per year.

PENN Dividends

PENN Entertainment Inc. is expected to release its next quarterly earnings report between November 01 and November 06.

PENN Entertainment Inc. (NASDAQ:PENN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.79% of PENN Entertainment Inc. shares while 87.62% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 88.32%. There are 87.62% institutions holding the PENN Entertainment Inc. stock share, with FMR, LLC the top institutional holder. As of Jun 29, 2023, the company held 12.10% of the shares, roughly 18.27 million PENN shares worth $429.77 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 9.96% or 15.05 million shares worth $353.97 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 4.97 million shares estimated at $116.85 million under it, the former controlled 3.29% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.15% of the shares, roughly 4.76 million shares worth around $112.04 million.

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