Penn Entertainment Stock Climbs On Q2 EPS Beat: Details

PENN Entertainment, Inc. PENN shares are trading higher Thursday after the company reported its second-quarter financial results before the opening bell. Here's a look at the details from the report. 

The Details:

Penn Entertainment reported quarterly losses of 18 cents per share which beat the analyst consensus estimate by 28%.  Quarterly sales of $1.4 billion missed the consensus estimate by 15.46% and is a 16.42% decrease in revenue from the same period last year.

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The company highlighted record quarterly gaming revenue in its Interactive segment driven by enhanced risk and trading processes and deliberate reinvestment strategies. Penn Entertainment also reported retail business property level revenues of $1.4 billion for the quarter. 

“Our retail properties delivered solid results this quarter as our best-in-class team of operators continues to execute across our diverse portfolio of market leading assets. In our Interactive segment, top-of-funnel growth, improved risk and trading execution, and refined promotional strategies contributed to better-than-expected revenue and Adjusted EBITDA results," said Jay Snowden, CEO of Penn Entertainment. 

Is PENN A Good Stock To Buy?

An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like PENN Entertainment‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. PENN Entertainment does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on PENN Entertainment will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

PENN Price Action: According to Benzinga Pro, Penn Entertainment shares are up 3.22% at $17.82 at the time of publication Thursday.

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