$0.31 Earnings Per Share Expected for Pinnacle Entertainment Inc (PNK) This Quarter
Wall Street analysts expect that Pinnacle Entertainment Inc (NASDAQ:PNK) will report earnings of $0.31 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Pinnacle Entertainment’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.39. Pinnacle Entertainment reported earnings of $0.23 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 34.8%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Pinnacle Entertainment will report full-year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.12 to $1.41. For the next financial year, analysts expect that the firm will post earnings of $1.41 per share, with EPS estimates ranging from $1.08 to $1.74. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Pinnacle Entertainment.
Pinnacle Entertainment (NASDAQ:PNK) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.07). Pinnacle Entertainment had a negative return on equity of 24.61% and a net margin of 3.16%. The company had revenue of $647.60 million for the quarter, compared to analyst estimates of $649.20 million. During the same period last year, the company earned ($0.15) earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year.
Shares of Pinnacle Entertainment stock traded up $0.08 on Wednesday, hitting $33.56. The company’s stock had a trading volume of 429,600 shares, compared to its average volume of 417,887. Pinnacle Entertainment has a 52-week low of $18.80 and a 52-week high of $35.18. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of -13.62. The firm has a market capitalization of $1.96 billion, a PE ratio of 32.74 and a beta of 1.49.
A number of large investors have recently added to or reduced their stakes in PNK. Alpine Associates Management Inc. purchased a new position in Pinnacle Entertainment in the 1st quarter valued at about $45,552,000. Gardner Lewis Asset Management L P lifted its holdings in Pinnacle Entertainment by 88.9% in the 2nd quarter. Gardner Lewis Asset Management L P now owns 2,472,472 shares of the company’s stock valued at $83,396,000 after purchasing an additional 1,163,367 shares in the last quarter. Natixis purchased a new position in Pinnacle Entertainment in the 2nd quarter valued at about $27,600,000. Water Island Capital LLC purchased a new position in Pinnacle Entertainment in the 1st quarter valued at about $19,775,000. Finally, State of Wisconsin Investment Board lifted its holdings in Pinnacle Entertainment by 1,326.1% in the 1st quarter. State of Wisconsin Investment Board now owns 698,804 shares of the company’s stock valued at $21,069,000 after purchasing an additional 649,804 shares in the last quarter. Institutional investors own 87.16% of the company’s stock.
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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