Pinnacle Entertainment, Inc. (PNK) Announces Quarterly Earnings Results

Pinnacle Entertainment, Inc. (NASDAQ:PNK) announced its earnings results on Thursday. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.07, MarketWatch Earnings reports. The business had revenue of $653.60 million during the quarter, compared to analyst estimates of $647.36 million. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned ($8.04) earnings per share.

Pinnacle Entertainment (NASDAQ:PNK) opened at 19.03 on Friday. Pinnacle Entertainment has a 52-week low of $10.54 and a 52-week high of $22.10. The stock’s market capitalization is $1.09 billion. The stock’s 50 day moving average price is $19.53 and its 200-day moving average price is $18.90.

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Several research analysts have issued reports on PNK shares. Zacks Investment Research cut Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Barclays PLC raised their target price on Pinnacle Entertainment from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 30th. ValuEngine raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, May 20th. Telsey Advisory Group raised their target price on Pinnacle Entertainment from $22.00 to $27.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 10th. Finally, Deutsche Bank AG raised their target price on Pinnacle Entertainment from $13.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Pinnacle Entertainment presently has an average rating of “Hold” and a consensus target price of $20.29.

A number of institutional investors have recently made changes to their positions in PNK. Prudential Financial Inc. increased its position in shares of Pinnacle Entertainment by 0.8% in the second quarter. Prudential Financial Inc. now owns 39,897 shares of the company’s stock worth $788,000 after buying an additional 330 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Pinnacle Entertainment by 10.4% in the first quarter. SG Americas Securities LLC now owns 14,145 shares of the company’s stock worth $276,000 after buying an additional 1,338 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Pinnacle Entertainment by 5.3% in the second quarter. Nationwide Fund Advisors now owns 48,356 shares of the company’s stock worth $956,000 after buying an additional 2,428 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Pinnacle Entertainment by 3.5% in the first quarter. Teachers Advisors LLC now owns 97,240 shares of the company’s stock worth $1,898,000 after buying an additional 3,245 shares during the last quarter. Finally, Algert Global LLC increased its position in shares of Pinnacle Entertainment by 3.1% in the second quarter. Algert Global LLC now owns 120,123 shares of the company’s stock worth $2,374,000 after buying an additional 3,663 shares during the last quarter. Hedge funds and other institutional investors own 89.45% of the company’s stock.

Pinnacle Entertainment Company Profile

Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment businesses. The Company operates through three segments: Midwest, South and West. The Company’s Midwest segment includes Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.

Earnings History for Pinnacle Entertainment (NASDAQ:PNK)

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