Pinnacle Entertainment Inc (PNK) Receives Average Recommendation of “Hold” from Brokerages

Pinnacle Entertainment Inc (NASDAQ:PNK) has been given a consensus rating of “Hold” by the twelve analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $31.00.

Several research analysts have commented on the company. BidaskClub downgraded Pinnacle Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, September 8th. Zacks Investment Research raised Pinnacle Entertainment from a “strong sell” rating to a “hold” rating in a report on Saturday, August 18th. Stifel Nicolaus reaffirmed a “hold” rating and set a $35.00 target price on shares of Pinnacle Entertainment in a report on Thursday, August 16th. Finally, ValuEngine downgraded Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th.

Shares of NASDAQ PNK traded up $0.15 during mid-day trading on Friday, hitting $33.40. 407,311 shares of the stock traded hands, compared to its average volume of 406,324. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of -13.62. Pinnacle Entertainment has a twelve month low of $19.09 and a twelve month high of $35.18. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 32.75 and a beta of 1.49.

Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.07). Pinnacle Entertainment had a net margin of 3.16% and a negative return on equity of 24.61%. The firm had revenue of $647.60 million for the quarter, compared to analyst estimates of $649.20 million. During the same period last year, the business earned ($0.15) EPS. The company’s revenue was down .9% compared to the same quarter last year. research analysts anticipate that Pinnacle Entertainment will post 1.21 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV lifted its holdings in Pinnacle Entertainment by 15.5% during the 1st quarter. KBC Group NV now owns 11,429 shares of the company’s stock worth $345,000 after buying an additional 1,531 shares during the period. Victory Capital Management Inc. lifted its holdings in Pinnacle Entertainment by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 12,917 shares of the company’s stock worth $436,000 after buying an additional 1,772 shares during the period. Barclays PLC lifted its holdings in Pinnacle Entertainment by 2.1% during the 1st quarter. Barclays PLC now owns 95,344 shares of the company’s stock worth $2,875,000 after buying an additional 2,003 shares during the period. Swiss National Bank lifted its holdings in Pinnacle Entertainment by 2.2% during the 1st quarter. Swiss National Bank now owns 95,500 shares of the company’s stock worth $2,879,000 after buying an additional 2,100 shares during the period. Finally, Mint Tower Capital Management B.V. lifted its holdings in Pinnacle Entertainment by 25.0% during the 2nd quarter. Mint Tower Capital Management B.V. now owns 12,500 shares of the company’s stock worth $422,000 after buying an additional 2,500 shares during the period. 87.16% of the stock is currently owned by hedge funds and other institutional investors.

Pinnacle Entertainment Company Profile

Pinnacle Entertainment, Inc owns, develops, and operates casinos and related hospitality and entertainment facilities in the United States. It operates through Midwest, South, and West segments. As of February 28, 2018, the company owned and operated 16 gaming entertainment businesses located in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio, and Pennsylvania.

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Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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