Provides a general description of the business conducted by this company. The Barchart Technical Opinion rating is a 88% Sell with a Average short term outlook on maintaining the current direction. 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…. These companies are capitalizing on rising interest in online gambling. Shares in sports gambling names have fallen in the wake of Penn’s $2 billion deal for ESPN rights.
- 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.
- With the ESPN and Penn Entertainment deal, Disney is officially entering the world of sports betting.
- High-growth stocks tend to represent the technology, healthcare, and communications sectors.
- It doesn’t even have to go great for investors to see decent returns on their investment — just well enough.
Penn Entertainment Inc. followed up its announcement of a deal with ESPN with a second-quarter report in which profit and revenue rose above expectations, as strength in its food, beverage and hotel b… 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 … 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… Penn Entertainment CEO Jay Snowden said the only “natural owner” of Barstool Sports is David Portnoy, who founded the company in 2003. Truist Securities analyst Barry Jonas downgraded his rating of Penn to Hold from Buy. Upgrade to MarketBeat All Access to add more stocks to your watchlist.
Disney’s ESPN has signed a long-term exclusive agreement with casino operator Penn Entertainment, licensing its brand for sports betting and deepening the media giant’s ties to the growing online gamb… When Penn Entertainment Inc. announced plans on Tuesday to launch an ESPN-branded online sports-betting service, shares of the casino operator initially rallied. According to 17 analysts, the average rating for PENN stock is “Buy.” The 12-month stock price forecast is $37.53, which is an increase of 63.53% from the latest price.
17 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for PENN Entertainment in the last twelve months. The consensus among Wall Street research analysts is that investors forex trading tools should “hold” PENN shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PENN, but not buy additional shares or sell existing shares.
ESPN Gambling Deal Faces Criticisms Of Conflict Of Interest
As ESPN is arguably the most notable name in sports media, this could prove to be a big deal for Penn. In fact, it will almost have to be if the company plans to continue operating in the space. 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. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods.
- PENN Entertainment shareholders celebrated after the entertainment company announced on Tuesday it would partner with Disney’s ESPN to create a sports betting company.
- More value-oriented stocks tend to represent financial services, utilities, and energy stocks.
- The stock is around the lowest it’s been since May 2020, and its price-to-earnings (P/E) ratio is 5.4, which puts it into value territory.
- Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods.
- The Company offers an integrated entertainment, sports content, online sports betting, and casino gaming solutions.
- The analysts see these stocks trading at extreme lows with nowhere to go but up, and there are catalysts to drive their markets higher.
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. Dividend yield allows investors, particularly those interested in dividend-paying stocks,
to compare the relationship between a stock’s price and how it rewards stockholders through dividends.
Penn Entertainment’s origins date back to its 1972 racetrack opening in Pennsylvania. The retail portfolio generates high-30% EBITDAR margins and helps position the company to obtain licenses for the digital wagering markets. As a result, we estimate Penn holds around a low-double-digit revenue share of the $60 billion domestic commercial casino gaming market.
Supreme Court made federal sports betting legal in its Murphy vs. NCAA case. Since then, countless sportsbooks and online betting platforms have popped up best food stocks around the country, trying to get a piece of the pie. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services.
EVP of PENN Entertainment Sold $261K In Stock
Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.
Stock Money Flow
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. One share of PENN stock can currently be purchased for approximately $22.95. 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. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.
Why ESPN Gambling Deal Might Not Be a Win for Penn Entertainment Stock
The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. The analysts AWS Engineer see these stocks trading at extreme lows with nowhere to go but up, and there are catalysts to drive their markets higher. A new sports betting partnership should breathe new life into this entertainment company.
Growth Stock Down 17% to Buy Right Now
It also helps that the current U.S. sports betting market is expected to have a compound annual growth rate (CAGR) of 10.4% through 2030. Penn and Walt Disney’s ESPN recently inked a 10-year deal, making the company the exclusive betting partner for the platform. As part of the deal, Penn will pay ESPN $1.5 billion over 10 years and grant it around $500 million in stock warrants to purchase around 31.8 million Penn shares. In February 2020, casino operator and online betting company Penn Entertainment Inc. took a 36% stake in Barstool Sports for $161 million. This repurchase authorization allows the company to repurchase up to 9.8% of its shares through open market purchases.
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… Having already been a casino operator, the company entered sports betting with its $551 million acquisition of Barstool Sports. Penn paid $163 million for a 36% stake in February 2020 and then $388 million for the remaining stake in February 2023. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer.
PENN Stock – Frequently Asked Questions
PENN Entertainment stock spiked 20% on Wednesday after announcing a $2 billion deal with ESPN. The company will partner with ESPN to launch ESPN Bets, a new US-based sports-betting platform. Penn is trading at a significant discount to its peers, and the breath of new life from the ESPN deal should give the company lots of upside if things go well. It doesn’t even have to go great for investors to see decent returns on their investment — just well enough.
17 Wall Street analysts have issued 1-year price targets for PENN Entertainment’s stock. On average, they predict the company’s stock price to reach $36.67 in the next twelve months. This suggests a possible upside of 59.8% from the stock’s current price. View analysts price targets for PENN or view top-rated stocks among Wall Street analysts. PENN Entertainment, Inc. owns and operates casinos, hotels, and racetracks facilities. The Company offers an integrated entertainment, sports content, online sports betting, and casino gaming solutions.
To see all exchange delays and terms of use please see Barchart’s disclaimer. If anything, it presents a compelling opportunity for potential investors. The stock is around the lowest it’s been since May 2020, and its price-to-earnings (P/E) ratio is 5.4, which puts it into value territory.
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.
