Zacks Investment Research upgraded shares of Pinnacle Entertainment (NASDAQ:PNK) from a strong sell rating to a hold rating in a report released on Saturday morning.
According to Zacks, “Pinnacle Entertainment is a diversified gaming company that owns and operates casinos in Indiana, Louisiana, Mississippi, Nevada and Argentina and is pursuing the development of a hotel and casino resort in Lake Charles, Louisiana. The Company also receives lease income from two card club casinos, both in the Los Angeles metropolitan area. “
Several other research firms have also recently weighed in on PNK. BidaskClub upgraded shares of Pinnacle Entertainment from a hold rating to a buy rating in a report on Tuesday, May 1st. ValuEngine upgraded shares of Pinnacle Entertainment from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Finally, Stifel Nicolaus reiterated a hold rating and issued a $35.00 price target on shares of Pinnacle Entertainment in a report on Thursday, August 16th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $32.00.
Shares of NASDAQ PNK opened at $34.00 on Friday. The company has a market cap of $1.94 billion, a P/E ratio of 33.33 and a beta of 1.37. 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 52-week low of $18.30 and a 52-week high of $35.18.
Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.07). The firm had revenue of $647.60 million for the quarter, compared to analyst estimates of $649.20 million. Pinnacle Entertainment had a net margin of 3.16% and a negative return on equity of 24.61%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) EPS. equities research analysts predict that Pinnacle Entertainment will post 1.15 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. 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. boosted its holdings in Pinnacle Entertainment by 200.2% during the second quarter. Sei Investments Co. now owns 8,614 shares of the company’s stock worth $290,000 after purchasing an additional 5,745 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Pinnacle Entertainment during the first quarter worth $295,000. Finally, Mint Tower Capital Management B.V. acquired a new position in Pinnacle Entertainment during the first quarter worth $302,000. Institutional investors and hedge funds own 85.92% of the company’s stock.
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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