With the ESPN and Penn Entertainment deal, Disney is officially entering the world of sports betting. While the Supreme Court’s decision made sports betting legal on the federal level, each state dictates whether they’ll allow it. Currently, 34 states and Washington, D.C., allow some form of legalized sports betting. For perspective on how valuable the marketing could be, FanDuel spent $616 million this year, and DraftKings spent $207 million in its second quarter alone. We’d like to share more about how we work and what drives our day-to-day business.
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 forex vs stocks which is more profitable 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.
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. Yahoo Finance anchors Brad Smith and Julie Hyman break down the sports betting deal between ESPN and PENN entertainment. ESPN’s new deal means that the world’s largest sports news and information company will also be a gambling company. ESPN just struck a $1.5 billion deal with Penn Entertainment to rebrand Barstool Sportsbook as ESPN Bet. ESPN will buy $500 million in shares of Penn, and sell its stake in Sportsbook back to founder …
PENN, Disney’s ESPN $1.5B deal scores with investors
Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Needless to say, Penn investors haven’t been satisfied with recent moves, with the stock down just under 20% this year. Get this delivered to your inbox, and more info about our products and services. Penn Entertainment divested Barstool Sports and plans to rebrand its sportsbook in partnership with ESPN. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment.
- As ESPN is arguably the most notable name in sports media, this could prove to be a big deal for Penn.
- One share of PENN stock can currently be purchased for approximately $22.95.
- Penn and Walt Disney’s ESPN recently inked a 10-year deal, making the company the exclusive betting partner for the platform.
- ESPN’s new deal means that the world’s largest sports news and information company will also be a gambling company.
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 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.
To see all exchange delays and terms of use please see Barchart’s disclaimer. If anything, it presents a compelling opportunity for potential investors. Trading index 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.
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.
Sports
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.
Earnings and Valuation
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.
Penn Entertainment Company Info
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.
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.
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.
The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price. PENN Entertainment shareholders celebrated after the entertainment company announced on Tuesday it would partner with Disney’s ESPN to create a sports betting company. In return, ESPN will provide marketing services, media, brand rights, and other rights.
Research & Ratings PENN Entertainment Inc.(PENN)
Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued. PENN Entertainment’s stock was trading at $29.70 at the beginning of the year. Since then, PENN shares have decreased by 22.7% and is now trading at $22.95. At some point, you imagine the potential tax revenue from legalizing sports betting outweighs the states’ arguments against it. The U.S. has made $3.47 billion in tax revenue from sports betting since June 2018.
Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. PENN’s beta can be found in Trading Information at the momentum trading strategy top of this page. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.
Shares of the casino operator fell on a mixed earnings report and a social media controversy. From beverage makers and apparel manufacturers to media outlets and sports betting apps, there are several ways to indirectly invest in the upcoming NFL season. Gaming, specifically gambling, is growing in all segments and these companies are working hard to cement their positions and drive results for shareholders. Morningstar analysts hand-select direct competitors or comparable companies to
provide context on the strength and durability of PENN’s
competitive advantage. Yahoo Finance anchor Brad Smith breaks down three things to know for August 9, 2023 including deflation in China, CPI data to be released on Thursday, ESPN’s $1.5 billion deal with Penn Entertainment … Penn Entertainment shares surged after inking a $2 billion deal to rebrand and relaunch its sportsbook as ESPN Bet.