Pinnacle Entertainment Inc (NASDAQ:PNK) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.00.

PNK has been the topic of several research analyst reports. BidaskClub cut Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Zacks Investment Research cut Pinnacle Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Stifel Nicolaus reissued a “hold” rating and issued a $35.00 price objective on shares of Pinnacle Entertainment in a research note on Thursday, August 16th. Finally, ValuEngine cut Pinnacle Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 8th.

Shares of NASDAQ PNK traded down $0.06 during midday trading on Friday, hitting $33.43. The company’s stock had a trading volume of 583,122 shares, compared to its average volume of 428,894. The company has a debt-to-equity ratio of -13.62, a quick ratio of 0.84 and a current ratio of 0.88. Pinnacle Entertainment has a 12-month low of $19.60 and a 12-month high of $35.18. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 27.18 and a beta of 1.49.

Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $647.60 million during the quarter, compared to the consensus estimate of $649.20 million. During the same period last year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. sell-side analysts predict that Pinnacle Entertainment will post 1.21 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Pinnacle Entertainment by 0.3% during the 2nd quarter. BlackRock Inc. now owns 3,589,386 shares of the company’s stock valued at $121,070,000 after acquiring an additional 11,582 shares in the last quarter. Gardner Lewis Asset Management L P boosted its position in Pinnacle Entertainment by 88.9% during 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 acquiring an additional 1,163,367 shares in the last quarter. Renaissance Technologies LLC boosted its position in Pinnacle Entertainment by 25.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,414,300 shares of the company’s stock valued at $81,434,000 after acquiring an additional 489,400 shares in the last quarter. Alpine Associates Management Inc. boosted its position in Pinnacle Entertainment by 19.4% during the 2nd quarter. Alpine Associates Management Inc. now owns 1,803,319 shares of the company’s stock valued at $61,007,000 after acquiring an additional 292,448 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Pinnacle Entertainment by 49.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,194,428 shares of the company’s stock valued at $40,287,000 after acquiring an additional 396,264 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Pinnacle Entertainment Company Profile

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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Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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