Pinnacle Entertainment Inc (PNK) Expected to Post Quarterly Sales of $639.87 Million
Wall Street analysts predict that Pinnacle Entertainment Inc (NASDAQ:PNK) will post sales of $639.87 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Pinnacle Entertainment’s earnings, with the lowest sales estimate coming in at $633.28 million and the highest estimate coming in at $645.40 million. Pinnacle Entertainment reported sales of $637.42 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.4%. The firm is scheduled to report its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Pinnacle Entertainment will report full-year sales of $639.87 million for the current financial year, with estimates ranging from $2.57 billion to $2.59 billion. For the next year, analysts expect that the firm will post sales of $2.62 billion per share, with estimates ranging from $2.60 billion to $2.64 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Pinnacle Entertainment.
Pinnacle Entertainment (NASDAQ:PNK) last released its earnings results on Tuesday, November 7th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The business had revenue of $647.40 million during the quarter, compared to analyst estimates of $652.13 million. During the same period in the prior year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis.
Shares of Pinnacle Entertainment (NASDAQ:PNK) traded down $0.40 during trading hours on Monday, hitting $32.49. 743,400 shares of the company traded hands, compared to its average volume of 543,966. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of -11.36. The stock has a market cap of $1,870.00 and a P/E ratio of 64.98. Pinnacle Entertainment has a fifty-two week low of $13.61 and a fifty-two week high of $33.59.
Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in shares of Pinnacle Entertainment by 21.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 122,708 shares of the company’s stock worth $2,615,000 after purchasing an additional 21,903 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Pinnacle Entertainment by 60.5% during the 3rd quarter. GSA Capital Partners LLP now owns 129,464 shares of the company’s stock worth $2,759,000 after purchasing an additional 48,797 shares in the last quarter. Argent Capital Management LLC increased its position in shares of Pinnacle Entertainment by 58.0% during the 3rd quarter. Argent Capital Management LLC now owns 159,300 shares of the company’s stock worth $3,395,000 after purchasing an additional 58,475 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Pinnacle Entertainment by 32.5% during the 3rd quarter. California Public Employees Retirement System now owns 240,036 shares of the company’s stock worth $5,115,000 after purchasing an additional 58,880 shares in the last quarter. Finally, Bamco Inc. NY increased its position in Pinnacle Entertainment by 5.6% in the 3rd quarter. Bamco Inc. NY now owns 5,203,966 shares of the company’s stock valued at $110,897,000 after acquiring an additional 275,100 shares in the last quarter. 92.73% of the stock is owned by institutional investors.
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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