Pinnacle Entertainment, Inc. (NASDAQ:PNK) Upgraded by Zacks Investment Research to “Hold”
Pinnacle Entertainment, Inc. (NASDAQ:PNK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Saturday.
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. “
A number of other research analysts have also weighed in on the company. Deutsche Bank AG raised their target price on Pinnacle Entertainment from $13.00 to $16.00 and gave the company a “hold” rating in a report on Friday, April 28th. Telsey Advisory Group lifted their price target on Pinnacle Entertainment from $22.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, May 10th. Barclays PLC lifted their price target on Pinnacle Entertainment from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, May 30th. ValuEngine upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, May 20th. Finally, BidaskClub lowered Pinnacle Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Pinnacle Entertainment presently has a consensus rating of “Hold” and a consensus target price of $20.29.
Pinnacle Entertainment (PNK) opened at 19.09 on Friday. The company’s 50 day moving average price is $19.51 and its 200-day moving average price is $18.93. Pinnacle Entertainment has a 12-month low of $10.54 and a 12-month high of $22.10. The firm’s market capitalization is $1.10 billion.
Pinnacle Entertainment (NASDAQ:PNK) last posted its earnings results on Thursday, August 10th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.07. The firm had revenue of $653.60 million during the quarter, compared to the consensus estimate of $647.36 million. During the same quarter in the previous year, the company earned ($8.04) EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities analysts anticipate that Pinnacle Entertainment will post $0.94 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Pinnacle Entertainment during the fourth quarter worth approximately $17,389,000. Fox Run Management L.L.C. purchased a new stake in shares of Pinnacle Entertainment during the first quarter valued at about $409,000. Alliancebernstein L.P. raised its stake in shares of Pinnacle Entertainment by 115.9% in the first quarter. Alliancebernstein L.P. now owns 195,110 shares of the company’s stock valued at $3,809,000 after buying an additional 104,750 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Pinnacle Entertainment during the first quarter valued at about $274,000. Finally, Teachers Advisors LLC purchased a new stake in shares of Pinnacle Entertainment during the fourth quarter valued at about $1,363,000. Institutional investors and hedge funds own 89.45% of the company’s stock.
About Pinnacle Entertainment
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.
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