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$PENN

11 stories mentioning PENNUpdated 35d ago

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Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In corporate news, JetBlue Airways' (JBLU) balance sheet woes could worsen as the Strait of Hormuz appears unlikely to reopen anytime soon, potentially prolonging jet fuel volatility, Seaport Research Partners said. Seaport downgraded its rating on the JetBlue stock to neutral from buy and withdrew its price target, just months after upgrading the stock on the assumption that the Strait of Hormuz would reopen. JetBlue shares were down past 6%.PENN Entertainment (PENN) said Monday it plans to invest nearly $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino to a new landside property on adjacent land and rebrand it as Hollywood Casino New Orleans, subject to regulatory approval. PENN Entertainment shares were shedding 1.1%.Paramount Skydance (PSKY) on Monday asked a federal judge in Oakland, California, to require the 12 states suing to block the company's acquisition of Warner Bros. Discovery (WBD) to post a $1.88 billion bond by Sept. 30. Paramount shares were up 1.2%.H World (HTHT) shares jumped past 11% after it reported better-than-expected Q2 results.

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Sectors

Sector Update: Consumer Stocks Decline in Afternoon Trading

Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.1%.In corporate news, JetBlue Airways' (JBLU) balance sheet woes could worsen as the Strait of Hormuz appears unlikely to reopen anytime soon, potentially prolonging jet fuel volatility, Seaport Research Partners said. Seaport downgraded its rating on the JetBlue stock to neutral from buy and withdrew its price target, just months after upgrading the stock on the assumption that the Strait of Hormuz would reopen. JetBlue shares were down 6.1%.PENN Entertainment (PENN) said Monday it plans to invest nearly $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino to a new landside property on adjacent land and rebrand it as Hollywood Casino New Orleans, subject to regulatory approval. PENN Entertainment shares were shedding 0.6%.H World (HTHT) shares jumped past 10% after it reported higher Q2 adjusted earnings and revenue, and raised its 2026 revenue growth outlook.

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Wire

PENN Entertainment Plans $195 Million Landside Hollywood Casino New Orleans

PENN Entertainment (PENN) said Monday it plans to invest nearly $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino to a new landside property on adjacent land and rebrand it as Hollywood Casino New Orleans, subject to regulatory approval.Hollywood Casino New Orleans is expected to open in 2029 and will include approximately 140,000 square feet of new development, about 875 slot machines, 45 table games, a retail sportsbook, and multiple dining options, the company said.The current riverboat will be vacated upon the opening of the new casino, while PENN expects to keep the existing hotel open for now, the company added.PENN said it expects to fund the project with cash on hand but might tap its balance sheet or other sources of liquidity.Price: $18.89, Change: $+0.10, Percent Change: +0.51%

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Wire

PENN Entertainment Benefits From Regional Gaming Momentum, Morgan Stanley Says

PENN Entertainment's (PENN) Q2 results reflected mixed industry trends, though stronger regional gaming helped the operator beat expectations and appear to gain share, Morgan Stanley said Wednesday in a report.Regional gaming accelerated in Q2 while Las Vegas and Macau remained choppy. Morgan Stanley said. PENN, Wynn Resorts (WYNN), Boyd Gaming (BYD) and Red Rock Resorts (RRR) all posted Q2 beats, the report said.Morgan Stanley raised its regional gaming estimates and generally lowered its Las Vegas forecasts following the results. July trends stayed positive despite even as tax-refund tailwinds faded, the report said.Gaming stocks sold off broadly despite earnings beats as investors questioned demand resilience and higher interest rates, Morgan Stanley said. Improved risk-adjusted returns and potential opportunities in prediction markets and online sports betting offer upside, the report said,Morgan Stanley raised its price target on PENN stock to $20 from $19 and maintained its equal-weight rating.Price: $19.15, Change: $+0.02, Percent Change: +0.10%

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Wire

PENN Entertainment Shares Rise After Q2 Earnings Beat

PENN Entertainment (PENN) shares were up over 2% in Thursday trading after the company reported better-than-expected earnings in Q2.The company posted quarterly adjusted earnings of $0.44 per diluted share, compared with $0.10 a year earlier.Analysts polled by FactSet expected $0.29.Revenue for the quarter ended June 30 was $1.86 billion, up from $1.77 billion a year earlier.Analysts expected $1.86 billion.Price: $20.09, Change: $+0.47, Percent Change: +2.40%

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Research

Capital One Upgrades PENN Entertainment to Overweight From Equalweight, Adjusts Price Target to $26 From $17

PENN Entertainment (PENN) has an average rating of overweight and mean price target of $23.81, according to analysts polled by FactSet.Price: $20.80, Change: $-0.13, Percent Change: -0.62%

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Wire

Regional Gaming Companies Set for Q2 Upside, BofA Says

PENN Entertainment (PENN), Churchill Downs (CHDN), and other regional gaming companies are expected to surpass market expectations in Q2, while Macau-based operators are likely to deliver mixed results, BofA Securities said Monday in a report.For regional companies, BofA projects same-store gross gaming revenue growth of 3% from a year earlier in April and May, with June flat.For online gaming companies, while the World Cup supported trends in June, BofA flagged concerns about wagering-volume growth in Q3 and Q4 as prediction-market activity continues to accelerate.For Macau operators, BofA expects Las Vegas Sands (LVS) to miss estimates and MGM Resorts International (MGM) to beat expectations.Las Vegas Strip gaming operators are expected to deliver results in line with consensus expectations, the report said.BofA lifted its price objective to $22 from $18 on PENN stock and to $70 from $60 on Red Rock Resorts (RRR), and cut its objective to $60 from $70 on Las Vegas Sands.Price: $21.41, Change: $+0.84, Percent Change: +4.08%

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Wire

Penn Entertainment Shareholders Vote for Board Declassification, Union Says

Penn Entertainment (PENN) shareholders approved an advisory proposal to declassify the company's board of directors at its annual meeting held on Tuesday, the Unite Here union said.The vote marks the second time Penn shareholders have supported board declassification, the union said."Penn shareholders have spoken clearly: they want annual elections for all directors," said Michael Hachey, director of gaming industry research at Unite Here. "The board should now take the necessary steps toward implementing declassification."Penn Entertainment did not immediately to a request fromseeking comment.Price: $21.67, Change: $-0.19, Percent Change: -0.89%

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Wire

PENN Entertainment Shareholders Urged by UNITE HERE to Back Board Declassification Proposal

PENN Entertainment (PENN) shareholders are being urged by UNITE HERE to vote in favor of a proposal to declassify the company's board of directors at the upcoming annual meeting on June 16, the union said Thursday in a statement.The union said annual elections would support long-term value creation by strengthening confidence in board oversight and enhancing accountability amid industry disruption.PENN's board has recommended shareholders vote against the proposal, according to the statement.PENN didn't immediately reply to a request for comment from.Price: $17.67, Change: $-0.15, Percent Change: -0.84%

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Wire

Update: PENN Entertainment Shares Rise After Q1 Results Beat

(Updates with the latest stock move in the headline and in the first paragraph.)PENN Entertainment (PENN) shares were up over 15% in Thursday trading after the company reported better-than-expected Q1 performance.Earlier, the firm posted an adjusted earnings of $0.11 per diluted share, swinging from an adjusted loss of $0.25 a year ago.Analysts polled by FactSet expected a loss of $0.04.Revenue for the quarter ended March 31 was $1.78 billion, up from $1.67 billion a year earlier.Analysts surveyed by FactSet expected $1.75 billion.Price: $17.12, Change: $+2.35, Percent Change: +15.88%

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Research

Research Alert: Penn Entertainment Beats Revenue Estimates And Meets Earnings Expectations

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PENN Entertainment posted Q1 2026 adjusted EPS of $0.11 vs. a loss per share of $0.25 in the prior year, in line with consensus estimates, reflecting substantial improvement in digital operations and continued execution of its realigned strategy. The Interactive segment delivered a meaningful inflection point with adjusted EBITDAR losses narrowing dramatically to $10.8M in Q1 2026, from $89.0M in Q1 2025, while Interactive revenues rose 23.5% to $358.3M including a $185.8M tax gross-up. Retail operations remained resilient with combined segments generating $471.4M in adjusted EBITDAR and healthy 33.2% margins, led by the West segment's 12.4% revenue growth. The company is executing its strategic plan of driving retail and Interactive growth while optimizing corporate overhead, with new developments opening at Hollywood Columbus and Aurora in June. We believe PENN is well-positioned for continued deleveraging efforts with stable retail cash generation and the Interactive segment approaching profitability.

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