PENN Stock Summary and Trading Ideas (Penn Entertainment | NASDAQ:PENN)

Penn Entertainment's origins date back to its 1972 racetrack opening in Pennsylvania. Today, Penn operates 43 properties across 20 states and 12 brands, including Hollywood Casino and Ameristar. Land-based casinos represented 89% of total sales in 2023; 11% was from the interactive segment, which includes sports, iGaming, and media revenue. The retail portfolio generates mid-30s EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. Additionally, Penn's media assets, theScore and ESPN (starting with its partnership launch in November 2023), provide access to sports betting/iGaming technology and clientele, helping it form a leading digital position.

Penn Entertainment trades on the NASDAQ stock market under the symbol PENN.

As of November 14, 2024, PENN stock price declined to $20.91 with 868,106 million shares trading.

PENN has a beta of 1.42, meaning it tends to be more sensitive to market movements. PENN has a correlation of 0.13 to the broad based SPY ETF.

PENN has a market cap of $3.19 billion. This is considered a Mid Cap stock.

Last quarter Penn Entertainment reported $2 billion in Revenue and -$.25 earnings per share. This fell short of revenue expectation by $-21 million and missed earnings estimates by -$.01.

In the last 3 years, PENN traded as high as $58.79 and as low as $13.50.

The top ETF exchange traded funds that PENN belongs to (by Net Assets): IJR, VTI, VB, VBR, VXF.

PENN has underperformed the market in the last year with a price return of -8.8% while the SPY ETF gained +36.6%. However, in the short term, PENN had mixed performance relative to the market. It has outperformed in the last 3 months, returning +11.2% vs +10.0% return in SPY. But in the last 2 weeks, PENN shares have been beat by the market, returning +1.0% compared to an SPY return of +2.5%.

PENN support price is $20.61 and resistance is $21.85 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PENN shares will trade within this expected range on the day.