Penn Entertainment (PENN) stock is up on the news of the company’s sports betting deal with ESPN (DIS). Yahoo Finance’s Josh Schafer joins the Live show to discuss the sports betting market, whether t… High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals.
On average, they predict the company’s share price to reach $36.72 in the next twelve months. This suggests a possible upside of 71.2% from the stock’s current price. View analysts price targets for PENN or view top-rated stocks among Wall Street analysts.
Disney Gets Into Gambling With ESPN. Why Investors Could Hit the Jackpot.
ESPN’s sports betting deal could give it enough fuel to grow in sports content. The analysts see these stocks trading at extreme lows with nowhere to go but up, and there are catalysts to drive their markets higher. PENN Entertainment stock spiked 20% on Wednesday after announcing a $2 billion shopping is a convenient deal with ESPN. The company will partner with ESPN to launch ESPN Bets, a new US-based sports-betting platform. PENN Entertainment shareholders celebrated after the entertainment company announced on Tuesday it would partner with Disney’s ESPN to create a sports betting company.
Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. Yahoo Finance anchors Brad Smith and Julie Hyman break down the sports betting deal between ESPN and PENN entertainment. According to 17 analysts, the average rating for PENN stock is “Buy.” The 12-month stock price forecast is $37.6, which is an increase of 75.29% from the latest price. PENN Entertainment’s stock is owned by a number of institutional and retail investors.
About PENN
Compare
PENN’s historical performance
against its industry peers and the overall market. Morningstar analysts hand-select direct competitors or comparable companies to
provide context on the strength and durability of PENN’s
competitive advantage. Upgrade to MarketBeat All Access to add more stocks to your watchlist.
- The issuers of these securities may be an affiliate of Public, and Public (or an affiliate) may earn fees when you purchase or sell Alternative Assets.
- Gaming, specifically gambling, is growing in all segments and these companies are working hard to cement their positions and drive results for shareholders.
- The company is scheduled to release its next quarterly earnings announcement on Thursday, November 2nd 2023.
When Penn Entertainment Inc. announced plans on Tuesday to launch an ESPN-branded online sports-betting service, shares of the casino operator initially rallied. PENN Entertainment declared that its board has initiated a stock repurchase program on Thursday, February 3rd 2022, which permits the company to repurchase $750,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to buy up to 9.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued. You can find your newly purchased PENN stock in your portfolio—alongside the rest of your stocks, ETFs, crypto, treasuries, and alternative assets.
Earnings and Valuation
Yahoo Finance anchor Brad Smith breaks down three things to know for August 9, 2023 including deflation in China, CPI data to be released on Thursday, ESPN’s $1.5 billion deal with Penn Entertainment … Penn Entertainment shares surged after inking a $2 billion deal to rebrand and relaunch its sportsbook as ESPN Bet. Penn may have been Disney’s last option to monetize ESPN’s brand in sports betting, and it raises key questions for the Magic Kingdom, one analyst said. ESPN’s new deal means that the world’s largest sports news and information company will also be a gambling company.
30 employees have rated PENN Entertainment Chief Executive Officer Jay Snowden on Glassdoor.com. Jay Snowden has an approval rating of 87% among the company’s employees. Get this delivered to your inbox, and more info about our products and services.
Penn is betting big on ESPN for sports betting. One analyst sees ‘sizable execution risks.’
Alternative Assets.Brokerage services for alternative assets available on Public are offered by Dalmore Group, LLC (“Dalmore”), member of FINRA & SIPC. “Alternative assets,” as the term is used at Public, are equity securities that have been issued pursuant to Regulation A of the Securities Act of 1933 (as amended) (“Regulation A”). These investments are speculative, involve substantial risks (including illiquidity and loss of principal), https://1investing.in/ and are not FDIC or SIPC insured. Alternative Assets purchased on the Public platform are not held in an Open to the Public Investing brokerage account and are self-custodied by the purchaser. The issuers of these securities may be an affiliate of Public, and Public (or an affiliate) may earn fees when you purchase or sell Alternative Assets. For more information on risks and conflicts of interest, see these disclosures.
Shares in sports gambling names have fallen in the wake of Penn’s $2 billion deal for ESPN rights. Belpointe Chief Strategist David Nelson joins Yahoo Finance Live anchors Seana Smith and Akiko Fujita to discuss the stock market, interest rates, and why his buys are Disney (DIS) and energy sector s… Truist Securities analyst Barry Jonas downgraded his rating of Penn to Hold from Buy. Joe Pompliano, Sport Business Analyst, joins ‘Last Call’ to talk the PENN-ESPN deal, why Penn’s stock is lower and what the future of the partnership could look like.
The Barchart Technical Opinion rating is a 100% Sell with a Strongest short term outlook on maintaining the current direction. Gaming, specifically gambling, is growing in all segments and these companies are working hard to cement their positions and drive results for shareholders. We’d like to share more about how we work and what drives our day-to-day business. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.
The company is scheduled to release its next quarterly earnings announcement on Thursday, November 2nd 2023. Sign-up to receive the latest news and ratings for PENN Entertainment and its competitors with MarketBeat’s FREE daily newsletter. When you see PENN stock appear in the results, tap it to open up the purchase screen. Provides a general description of the business conducted by this company. Disney isn’t getting out of the sports business, it’s trying to play a central role in the future of sports. While it looks as though the major indexes will end up down on the week, their first in the last three, there remain some unusually active options that allow you to buy these stocks for only $150 down….
Open to Public Investing is a wholly-owned subsidiary of Public Holdings, Inc. (“Public Holdings”). This is not an offer, solicitation of an offer, or advice to buy or sell securities or open a brokerage account in any jurisdiction where Open to the Public Investing is not registered. Securities products offered by Open to the Public Investing are not FDIC insured. Apex Clearing Corporation, our clearing firm, has additional insurance coverage in excess of the regular SIPC limits. 17 analysts have issued 12-month price objectives for PENN Entertainment’s stock.
No offer to buy securities can be accepted, and no part of the purchase price can be received, until an offering statement filed with the SEC has been qualified by the SEC. An indication of interest to purchase securities involves no obligation or commitment of any kind. All investments involve the risk of loss and the past performance of a security or a financial product does not guarantee future results or returns.
William Penn Bancorporation Announces Sixth Stock Repurchase Program – Yahoo Finance
William Penn Bancorporation Announces Sixth Stock Repurchase Program.
Posted: Tue, 29 Aug 2023 07:00:00 GMT [source]
CNBC’s Julia Boorstin joins ‘The Exchange’ to discuss Disney’s upcoming earnings report, a decline in Disney’s Florida theme park performance, and ESPN’s $2 billion investment into Penn entertainment … ESPN just struck a $1.5 billion deal with Penn Entertainment to rebrand Barstool Sportsbook as ESPN Bet. ESPN will buy $500 million in shares of Penn, and sell its stake in Sportsbook back to founder …
