Analysts Anticipate Pinnacle Entertainment, Inc. (NASDAQ:PNK) to Announce $0.27 Earnings Per Share
Wall Street brokerages predict that Pinnacle Entertainment, Inc. (NASDAQ:PNK) will post earnings per share of $0.27 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Pinnacle Entertainment’s earnings, with the lowest EPS estimate coming in at $0.20 and the highest estimate coming in at $0.38. Pinnacle Entertainment reported earnings of ($0.01) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2,800%. The business is expected to announce its next quarterly earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Pinnacle Entertainment will report full year earnings of $0.99 per share for the current fiscal year, with EPS estimates ranging from $0.73 to $1.24. For the next financial year, analysts expect that the business will report earnings of $1.17 per share, with EPS estimates ranging from $0.92 to $1.41. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Pinnacle Entertainment.
Pinnacle Entertainment (NASDAQ:PNK) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.07. The firm had revenue of $653.60 million for the quarter, compared to analysts’ expectations of $647.36 million. Pinnacle Entertainment had a negative return on equity of 8.88% and a net margin of 0.68%. Pinnacle Entertainment’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($8.04) earnings per share.
Several brokerages have recently weighed in on PNK. Zacks Investment Research downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Barclays PLC raised their price target on Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, May 30th. ValuEngine raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Saturday, May 20th. Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 price objective on shares of Pinnacle Entertainment in a research report on Friday. Finally, BidaskClub cut Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.86.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Pinnacle Entertainment by 469.3% in the second quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock valued at $29,308,000 after buying an additional 1,222,680 shares during the period. Norges Bank bought a new position in Pinnacle Entertainment during the fourth quarter valued at approximately $17,389,000. Thrivent Financial For Lutherans increased its position in Pinnacle Entertainment by 132.3% in the first quarter. Thrivent Financial For Lutherans now owns 1,653,300 shares of the company’s stock valued at $32,272,000 after buying an additional 941,450 shares during the period. Renaissance Technologies LLC increased its position in Pinnacle Entertainment by 339.8% in the second quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock valued at $20,378,000 after buying an additional 796,800 shares during the period. Finally, Acadian Asset Management LLC increased its position in Pinnacle Entertainment by 3,315.8% in the first quarter. Acadian Asset Management LLC now owns 682,745 shares of the company’s stock valued at $13,328,000 after buying an additional 662,757 shares during the period. 89.45% of the stock is currently owned by hedge funds and other institutional investors.
Pinnacle Entertainment (NASDAQ:PNK) traded up 0.32% during trading on Friday, reaching $19.09. 578,866 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $19.51 and a 200-day moving average of $18.93. The stock has a market cap of $1.08 billion, a PE ratio of 67.70 and a beta of 1.31. Pinnacle Entertainment has a 12 month low of $10.54 and a 12 month high of $22.10.
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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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