PENN Entertainment Inc (NASDAQ:PENN), with a market capitalization of $3.57 billion, saw its shares close 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 Jan 31 and Feb 5, 2024. In the last reported quarter, PENN posted an EPS of $0.48 and generated an income of 78,400 K, returning an equity of 5.77%.
Analysts have set a consensus price target of $29.47 for the upcoming 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 uniform sell rating of 50% for PENN's stock across short, medium, and long terms, with an RSI metric of 64.86 on the 14-day chart, weekly volatility at 5.13%, a beta value of 2.15, and an Average True Range indicator at 1.05.
The company's average daily trading volume over three months is 5.99 million shares, which has risen to 8.09 million over the past ten days. Out of the 152.90 million outstanding shares, insiders hold 1.64% and institutions hold 85%. As of October 12, 2023, short interest stood at 18.46 million shares with a short ratio of 4.74.
Despite today's performance rising by only 1.25%, the company's shares have declined by -27.96% over the past year. In contrast, the S&P 500 Index and 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 a significant return over the last week with a 17.89% total return. This aligns with one of the InvestingPro Tips that management has been aggressively buying back shares, possibly contributing to the recent uptick in the stock's performance.
Another InvestingPro Tip to consider is that the company's revenue growth has been slowing down recently, which is reflected in the data showing a quarterly revenue growth of -0.34% in Q3 2023.
While the company was not profitable over the last twelve months, analysts predict it will turn a profit this year. This is a promising sign for potential investors, especially considering the company's adjusted P/E ratio for Q3 2023 is a more favorable 7.14.
For those interested in learning more about PENN Entertainment Inc. and gaining access to additional tips, consider exploring the InvestingPro platform. With over 6 more insightful tips available for PENN, InvestingPro offers a wealth of knowledge to help you make informed investment decisions.
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