Professional
Added to YB: 2024-06-07
Pitch date: 2024-05-31
PENN [bullish]
PENN Entertainment, Inc.
-5.54%
current return
Author Info
No bio for this author
Company Info
PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in the United States and internationally.
Market Cap
$2.0B
Pitch Price
$17.68
Price Target
22.00 (+32%)
Dividend
N/A
EV/EBITDA
7.87
P/E
-2.31
EV/Sales
1.77
Sector
Hotels, Restaurants and Leisure
Category
value
PENN Entertainment, Inc.: Investor Donerail Sees Value in Shares, and We Agree
PENN at $41: Donerail pushes focus on physical casinos, sees $23-$30/sh value (6.5-8x '24 EBITDA). We agree shares undervalued at 20-25% discount to our $22 FVE. Like digital biz long-term despite losses. Expect 6% betting rev share by '27 (was 7%), 20%+ margins. Competitive US market caps returns. Weak Q1 hold & spending to pressure margins. $2.6B '24-28 FCF covers debt. High uncertainty.
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