Pinnacle Entertainment Inc (PNK) Receives $30.17 Average Target Price from Analysts

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Pinnacle Entertainment Inc (NASDAQ:PNK) has been given a consensus recommendation of “Buy” by the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $30.17.

A number of equities analysts have commented on the company. BidaskClub lowered Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 6th. ValuEngine upgraded Pinnacle Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st.

Several large investors have recently made changes to their positions in PNK. BlackRock Inc. increased its position in Pinnacle Entertainment by 0.5% in the 4th quarter. BlackRock Inc. now owns 3,603,853 shares of the company’s stock valued at $117,953,000 after buying an additional 19,500 shares in the last quarter. California Public Employees Retirement System increased its position in Pinnacle Entertainment by 10.5% in the 4th quarter. California Public Employees Retirement System now owns 265,137 shares of the company’s stock valued at $8,678,000 after buying an additional 25,101 shares in the last quarter. Swiss National Bank increased its position in Pinnacle Entertainment by 4.7% in the 4th quarter. Swiss National Bank now owns 93,400 shares of the company’s stock valued at $3,057,000 after buying an additional 4,200 shares in the last quarter. Two Sigma Advisers LP increased its position in Pinnacle Entertainment by 25.6% in the 4th quarter. Two Sigma Advisers LP now owns 564,297 shares of the company’s stock valued at $18,469,000 after buying an additional 114,934 shares in the last quarter. Finally, Connable Office Inc. bought a new stake in Pinnacle Entertainment in the 4th quarter valued at about $242,000. 86.95% of the stock is currently owned by institutional investors.

NASDAQ:PNK opened at $33.15 on Friday. The company has a market cap of $1.92 billion, a P/E ratio of 32.50 and a beta of 1.40. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of -12.88. Pinnacle Entertainment has a 1-year low of $18.30 and a 1-year high of $34.63.

Pinnacle Entertainment (NASDAQ:PNK) last released its quarterly earnings results on Wednesday, May 9th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $628.40 million during the quarter, compared to analysts’ expectations of $638.64 million. Pinnacle Entertainment had a negative return on equity of 20.78% and a net margin of 2.66%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.28 EPS. equities research analysts forecast that Pinnacle Entertainment will post 1.23 earnings per share for the current year.

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.

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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