- The PENN share price has increased by more than 5% in the last five days.
- The company is about to announce its earnings in the upcoming days.
PENN Entertainment, Inc. (NASDAQ: PENN), formerly known as Penn National Gaming, is an American Company. It mainly operates in the following sectors: Entertainment, Sports content and Casino gambling. The company operates more than 40 properties in 20 states. The company was founded in the year 1982, nearly 41 years ago. The current CEO of the company is Jay Snowden.
The current market cap of PENN Entertainment is $3.455 Billion and the price-to-earnings ratio of the company is 5.31. The company has a basic EPS of $4.77. PENN stock has a beta of 1.6 which indicates that the stock moves more than the market as a whole.
The PENN company has a gross margin of 33.80% and the volume of the share is 1.80 Million, leading to an average volume of 5.20M. The company currently has more than 21K employees and it has a net cash of $11.20 Billion, as of Q2 2023. The company has shown a very good spike in ROA resulting in 4.2% for Q2 2023.
PENN Stock Performance Analysis
The company has a debt of $12.91 Billion, as of the end of 2022. The free cash flow of the company is $697.80 Million, and the company has cash and equivalents of $1.64 Billion and the revenue of the company has increased as compared to the year 2021. The company’s revenue as of 2022 was $6.40 Billion, and the profit margin stands at 3.47%.
PENN Stock Technical Analysis
PENN by writer50_tcr on TradingView.com
The stock price of PENN appears to be stuck in a range-bound zone, with a slight downward trend evident, primarily following a steep declining channel pattern. This suggests that the current momentum of the stock may continue to lead it to lower price levels.
In the larger timeframe, a downtrend is quite apparent, as indicated by the 50-day and 200-day EMAs, which are both trending downwards. Additionally, these EMAs have formed a “death cross,” which is generally considered a bearish signal in the market. This combination of factors reflects a bearish sentiment surrounding the stock.
Looking at the relative strength index (RSI), it’s displaying some volatility on the charts, and its value seems to be trading within a relatively narrow range, indicative of a bearish cycle. These technical indicators collectively suggest a cautious outlook for PENN stock in the current market conditions.
Conclusion
The PENN stock is following a downtrend on the charts. Despite the reliable fundamentals, the share price is currently declining. The EMAs and the RSI are also indicating bearishness.
Therefore the stock price may continue to decline to lower levels and will stay volatile unless it breaks above the wedge channel.
Technical Levels
- Support levels for the PENN share is: $21
- Resistance levels for the PENN share is: $24
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.