Evaluate the expected performance of PENN Entertainment (PENN) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
PENN Entertainment (PENN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Needham analyst Bernie McTernan expressed his view on PENN Entertainment, Inc. PENN investor event in Las Vegas on Monday.
PENN Entertainment is a speculative buy due to recent improvements in price action, short-term bullish momentum, and institutional accumulation. PENN's price action has shifted from a long-term downtrend to a horizontal range, recapturing its 30-week EMA, indicating potential bullish behavior. Short-term momentum is bullish, while long-term momentum is bearish but could turn positive soon; volume patterns show institutional buying.
PENN Entertainment Inc. NASDAQ: PENN is an integrated entertainment experience provider encompassing land-based casinos, iGaming, digital sports betting, racetracks and hotels. The company operates 43 casinos and racetracks in 20 states, along with sports betting through its ESPN BET mobile app in 18 states.
PENN Entertainment's sports betting venture ESPN Bet shows strong growth potential with expansion into New York and increased sporting events, despite being undervalued compared to peers. ESPN Bet's smaller addressable population, lower initial hold, and early market entry contribute to its current undervaluation, but these issues are being addressed. PENN Entertainment's regional casino business, despite high debt, remains robust, providing a solid foundation for ESPN Bet's growth and overall company valuation.
PENN is likely to benefit from its strong gaming performance, sports betting operations, and strategic retail investments amid margin woes.
PENN Entertainment's (PENN) second-quarter 2024 results are hurt by the disappointing performance of its South and Interactive segments.
The headline numbers for PENN Entertainment (PENN) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
PENN Entertainment (PENN) came out with a quarterly loss of $0.18 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to earnings of $0.48 per share a year ago.
PENN Entertainment (PENN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Integrated gaming provider Penn Entertainment (NASDAQ: PENN ) — which provides sports content and casino experiences — saw its shares decline conspicuously on Thursday. Earlier in the day, the company announced that it would initiate job cuts to support growth for its sportsbook partnership, ESPN Bet.