Morgan Stanley analyst Stephen Grambling initiates coverage on PENN Entertainment (NASDAQ:PENN) with a Equal-Weight rating and announces Price Target of $36.
PENN Entertainment (NASDAQ:PENN) has outperformed the market over the past 10 years by 4.04% on an annualized basis producing an average annual return of 15.18%. Currently, PENN Entertainment has a market capitalization of $5.36 billion.
Sports betting and online casino company DraftKings Inc (NASDAQ: DKNG) reported third-quarter financial results before market open Friday. Here are the key highlights and why shares are dropping.
Penn National Gaming (NASDAQ:PENN) reported quarterly earnings of $0.72 per share which beat the analyst consensus estimate of $0.38 by 89.47 percent. This is a 38.46 percent increase over earnings of $0.52 per share
he Ohio Casino Control Commission approved its next batch of sports betting license and Ohio online sports betting operators ahead of the rapidly approaching Jan. 1 universal launch.
The casino control
As the peak season for the third quarter gets underway, several casino companies have released their earnings reports and investors await reports from other major firms.
PENN Entertainment (NASDAQ:PENN) has outperformed the market over the past 10 years by 2.52% on an annualized basis producing an average annual return of 13.02%. Currently, PENN Entertainment has a market capitalization of $4.92 billion.