Zacks: Brokerages Expect Pinnacle Entertainment Inc (PNK) Will Announce Earnings of $0.33 Per Share
Wall Street brokerages expect Pinnacle Entertainment Inc (NASDAQ:PNK) to report earnings of $0.33 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Pinnacle Entertainment’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.35. Pinnacle Entertainment posted earnings of $0.28 per share in the same quarter last year, which indicates a positive year over year growth rate of 17.9%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 9th.
According to Zacks, analysts expect that Pinnacle Entertainment will report full year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $0.57 to $1.58. For the next financial year, analysts forecast that the firm will report earnings of $1.53 per share, with EPS estimates ranging from $1.21 to $1.98. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Pinnacle Entertainment.
Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. The business had revenue of $620.83 million during the quarter, compared to the consensus estimate of $635.70 million. Pinnacle Entertainment had a net margin of 2.46% and a negative return on equity of 18.61%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) EPS.
Shares of Pinnacle Entertainment (NASDAQ:PNK) traded down $0.18 during trading hours on Wednesday, reaching $30.00. 353,826 shares of the company traded hands, compared to its average volume of 600,778. The company has a market cap of $1,754.48, a P/E ratio of 29.41 and a beta of 1.46. The company has a debt-to-equity ratio of -2.53, a quick ratio of 0.68 and a current ratio of 0.53. Pinnacle Entertainment has a fifty-two week low of $16.55 and a fifty-two week high of $33.59.
Several hedge funds have recently added to or reduced their stakes in PNK. Ameriprise Financial Inc. bought a new position in shares of Pinnacle Entertainment during the second quarter valued at $543,000. Northern Trust Corp raised its stake in shares of Pinnacle Entertainment by 8.1% during the second quarter. Northern Trust Corp now owns 714,302 shares of the company’s stock valued at $14,115,000 after acquiring an additional 53,609 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Pinnacle Entertainment by 68.6% during the second quarter. Parametric Portfolio Associates LLC now owns 156,725 shares of the company’s stock valued at $3,097,000 after acquiring an additional 63,777 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Pinnacle Entertainment by 7.5% during the second quarter. Voya Investment Management LLC now owns 28,303 shares of the company’s stock valued at $559,000 after acquiring an additional 1,974 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Pinnacle Entertainment by 12.2% during the second quarter. State Street Corp now owns 1,217,256 shares of the company’s stock valued at $24,053,000 after acquiring an additional 132,136 shares during the last quarter. 85.39% of the stock is owned by hedge funds and other institutional investors.
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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.
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