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PENN Entertainment Inc (NASDAQ:PENN), with a market capitalization of $3.57 billion, closed its shares at $23.55 on Tuesday, reflecting a monthly gain of 7.63%. The stock fluctuated between $22.56 and $23.55 intraday and hit a yearly high of $39.35 and low of $18.35.
The company is expected to release its quarterly earnings report between January 31 and February 5, 2024. In the last reported quarter, PENN posted an EPS of $0.48 and generated revenue of 78.4K, with a return of capital of 5.77%.
Analysts have set a consensus price target of $29.47 for the next year, with estimated low and high price targets of $24.00 and $38.00 respectively, and a median consensus price of $30.00. .
Technical indicators suggest a consistent 50% Sell rating for PENN stock in the short, medium and long term, with an RSI metric of 64.86 on 14-day chart, weekly volatility of 5.13%, a beta value of 2.15 and avg. True Range indicator at 1.05.
The company’s average daily trading volume for three months is 5.99 Million shares, and in the last ten days it has increased to 8.09 Million. Of the 152.90 million shares outstanding, insiders own 1.64% and institutions own 85%. As of October 12, 2023, short interests amounted to 18.46 million shares with a short ratio of 4.74.
Even though the current performance increased by only 1.25%, the company’s shares fell -27.96% over the past year. On the contrary, the S&P 500 index and the Dow Jones Industrial increased by 0.36% and 0.21% respectively today.
InvestingPro Insights
InvestingPro data reveals that PENN Entertainment Inc., despite having a negative P/E ratio of -32.28, has shown significant performance over the past week with a total return of 17.89%. This aligns with one of InvestingPro’s tips that management has been aggressively buying back shares, possibly contributing to the recent rebound in stock performance.
Another InvestingPro tip to keep in mind is that the company’s revenue growth has been slowing recently, which is reflected in data showing quarterly revenue growth of -0.34% in the third quarter of 2023.
While the company was not profitable over the past twelve months, analysts predict it will turn a profit this year. This is a promising sign for potential investors, especially considering the company’s Q3 2023 Adjusted P/E ratio is a more favorable 7.14.
For those interested in learning more about PENN Entertainment Inc. and gaining access to additional advice, consider exploring the InvestingPro platform. With over 6 most interesting tips available for PENN, InvestingPro offers a wealth of knowledge to help you make informed investment decisions.
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