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 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.
- 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.
- Provides a general description of the business conducted by this company.
- Penn Entertainment’s origins date back to its 1972 racetrack opening in Pennsylvania.
- PENN Entertainment stock spiked 20% on Wednesday after announcing a $2 billion deal with ESPN.
- In February 2020, casino operator and online betting company Penn Entertainment Inc. took a 36% stake in Barstool Sports for $161 million.
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.
About MarketBeat
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.
- 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.
- 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.
- Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams.
- © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.
Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study. For example, a price above its moving average is generally considered an upward trend or a buy.
About PENN Entertainment (NASDAQ:PENN) Stock
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.
Supreme Court made federal sports betting legal in its Murphy vs. NCAA case. Since then, countless sportsbooks and online betting platforms have popped up how to pick a stock to invest in 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.
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.
What is PENN Entertainment Inc’s stock style?
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.
NewsPENN Entertainment Inc.PENN
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.
PENN Entertainment Inc.
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.
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.
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 auto forex trader 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.
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 theory of reflexivity 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.
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.
