$0.33 EPS Expected for Pinnacle Entertainment (PNK) This Quarter

Brokerages predict that Pinnacle Entertainment (NASDAQ:PNK) will post earnings per share (EPS) of $0.33 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Pinnacle Entertainment’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.35. Pinnacle Entertainment reported earnings per share of $0.28 during the same quarter last year, which would suggest a positive year over year growth rate of 17.9%. The company is expected to report its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Pinnacle Entertainment will report full-year earnings of $1.26 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.58. For the next year, analysts anticipate that the firm will report earnings of $1.50 per share, with EPS estimates ranging from $1.12 to $1.98. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Pinnacle Entertainment.

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Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Friday, February 23rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. Pinnacle Entertainment had a negative return on equity of 18.61% and a net margin of 2.46%. The company had revenue of $620.83 million for the quarter, compared to analysts’ expectations of $635.70 million. During the same period last year, the business earned ($0.16) EPS. Pinnacle Entertainment’s quarterly revenue was down 2.6% compared to the same quarter last year.

A number of equities research analysts recently commented on the company. Zacks Investment Research raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. BidaskClub raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, March 16th. Citigroup lowered Pinnacle Entertainment to a “hold” rating in a research report on Tuesday, December 19th. Macquarie lowered Pinnacle Entertainment from an “outperform” rating to a “neutral” rating in a research report on Tuesday, December 19th. Finally, ValuEngine raised Pinnacle Entertainment from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.14.

Institutional investors have recently made changes to their positions in the company. Koch Industries Inc. purchased a new stake in shares of Pinnacle Entertainment during the 4th quarter valued at $213,000. Guggenheim Capital LLC purchased a new stake in shares of Pinnacle Entertainment during the 4th quarter valued at $222,000. SG Americas Securities LLC purchased a new stake in shares of Pinnacle Entertainment during the 3rd quarter valued at $150,000. Amalgamated Bank purchased a new stake in shares of Pinnacle Entertainment during the 4th quarter valued at $234,000. Finally, Connable Office Inc. purchased a new stake in shares of Pinnacle Entertainment during the 4th quarter valued at $242,000. 85.93% of the stock is owned by hedge funds and other institutional investors.

Shares of PNK opened at $30.45 on Tuesday. The firm has a market capitalization of $1,748.76, a P/E ratio of 29.85 and a beta of 1.45. Pinnacle Entertainment has a 12-month low of $18.30 and a 12-month high of $33.59. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of -12.15.

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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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