Wall Street analysts expect that Pinnacle Entertainment Inc (NASDAQ:PNK) will report $654.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pinnacle Entertainment’s earnings, with estimates ranging from $650.40 million to $659.20 million. Pinnacle Entertainment reported sales of $647.40 million during the same quarter last year, which indicates a positive year over year growth rate of 1.1%. The company is scheduled to report its next earnings results on Tuesday, November 6th.
On average, analysts expect that Pinnacle Entertainment will report full-year sales of $2.57 billion for the current year, with estimates ranging from $2.56 billion to $2.59 billion. For the next financial year, analysts expect that the business will report sales of $2.62 billion per share, with estimates ranging from $2.59 billion to $2.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Pinnacle Entertainment.
Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Thursday, August 2nd. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.07). The firm had revenue of $647.60 million during the quarter, compared to the consensus estimate of $649.20 million. Pinnacle Entertainment had a negative return on equity of 24.61% and a net margin of 3.16%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business earned ($0.15) earnings per share.
Several brokerages recently commented on PNK. Zacks Investment Research raised Pinnacle Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus reiterated a “hold” rating and set a $35.00 price objective on shares of Pinnacle Entertainment in a research note on Thursday, August 16th. BidaskClub upgraded Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 22nd. Finally, ValuEngine lowered Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.00.
Institutional investors have recently added to or reduced their stakes in the business. Guggenheim Capital LLC acquired a new position in Pinnacle Entertainment during the fourth quarter worth $222,000. Quantbot Technologies LP acquired a new position in Pinnacle Entertainment during the first quarter worth $243,000. Sei Investments Co. increased its stake in shares of Pinnacle Entertainment by 200.2% in the second quarter. Sei Investments Co. now owns 8,614 shares of the company’s stock valued at $290,000 after buying an additional 5,745 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Pinnacle Entertainment in the first quarter valued at $295,000. Finally, Mint Tower Capital Management B.V. acquired a new stake in shares of Pinnacle Entertainment in the first quarter valued at $302,000. Hedge funds and other institutional investors own 85.92% of the company’s stock.
Shares of PNK stock opened at $34.00 on Tuesday. The firm has a market capitalization of $1.94 billion, a P/E ratio of 33.33 and a beta of 1.37. Pinnacle Entertainment has a one year low of $18.30 and a one year high of $35.18. The company has a debt-to-equity ratio of -13.62, a current ratio of 0.88 and a quick ratio of 0.84.
About Pinnacle Entertainment
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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