Pinnacle Entertainment (PNK) Upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research upgraded shares of Pinnacle Entertainment (NASDAQ:PNK) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
According to Zacks, “Pinnacle Entertainment is a diversified gaming company that owns and operates casinos in Indiana, Louisiana, Mississippi, Nevada and Argentina and is pursuing the development of a hotel and casino resort in Lake Charles, Louisiana. The Company also receives lease income from two card club casinos, both in the Los Angeles metropolitan area. “
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Pinnacle Entertainment from a buy rating to a hold rating in a research note on Wednesday, January 31st. SunTrust Banks restated an average rating and issued a $35.00 target price on shares of Pinnacle Entertainment in a research note on Monday, February 5th. Susquehanna Bancshares restated a neutral rating on shares of Pinnacle Entertainment in a research note on Tuesday, December 19th. Stifel Nicolaus boosted their target price on Pinnacle Entertainment from $23.00 to $30.00 and gave the stock a hold rating in a research note on Wednesday, November 8th. Finally, Macquarie downgraded Pinnacle Entertainment from an outperform rating to a neutral rating in a research note on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $30.14.
Pinnacle Entertainment (NASDAQ:PNK) last announced its earnings results on Friday, February 23rd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.22. Pinnacle Entertainment had a negative return on equity of 18.61% and a net margin of 2.46%. The firm had revenue of $620.83 million for the quarter, compared to the consensus estimate of $635.70 million. During the same quarter in the previous year, the business earned ($0.16) EPS. The company’s revenue was down 2.6% compared to the same quarter last year. research analysts expect that Pinnacle Entertainment will post 1.11 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of PNK. Ameriprise Financial Inc. purchased a new position in Pinnacle Entertainment in the second quarter valued at approximately $543,000. Northern Trust Corp lifted its stake in Pinnacle Entertainment by 8.1% in the second quarter. Northern Trust Corp now owns 714,302 shares of the company’s stock valued at $14,115,000 after purchasing an additional 53,609 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Pinnacle Entertainment by 68.6% in the second quarter. Parametric Portfolio Associates LLC now owns 156,725 shares of the company’s stock valued at $3,097,000 after purchasing an additional 63,777 shares during the last quarter. Voya Investment Management LLC lifted its stake in Pinnacle Entertainment by 7.5% in the second quarter. Voya Investment Management LLC now owns 28,303 shares of the company’s stock valued at $559,000 after purchasing an additional 1,974 shares during the last quarter. Finally, State Street Corp lifted its stake in Pinnacle Entertainment by 12.2% in the second quarter. State Street Corp now owns 1,217,256 shares of the company’s stock valued at $24,053,000 after purchasing an additional 132,136 shares during the last quarter. Institutional investors and hedge funds own 75.61% of the company’s stock.
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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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