Pinnacle Entertainment, Inc. (NASDAQ:PNK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, July 13th.
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. “
Several other research analysts have also recently issued reports on the company. Barclays PLC lifted their target price on Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, May 30th. ValuEngine upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, May 20th. BidaskClub lowered Pinnacle Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Telsey Advisory Group boosted their target price on Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, May 10th. Finally, Deutsche Bank AG boosted their target price on Pinnacle Entertainment from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Pinnacle Entertainment presently has an average rating of “Hold” and a consensus target price of $20.29.
Pinnacle Entertainment (NASDAQ:PNK) opened at 19.35 on Thursday. The firm’s 50-day moving average is $19.63 and its 200-day moving average is $18.75. Pinnacle Entertainment has a 1-year low of $10.54 and a 1-year high of $22.10. The company’s market capitalization is $1.11 billion.
Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings data on Wednesday, May 10th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.12. The firm had revenue of $640 million during the quarter, compared to analyst estimates of $639.86 million. During the same period last year, the business posted $0.83 EPS. The company’s revenue was up 10.3% on a year-over-year basis. Equities research analysts predict that Pinnacle Entertainment will post $0.96 EPS for the current year.
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Several institutional investors have recently bought and sold shares of PNK. Prudential Financial Inc. boosted its position in Pinnacle Entertainment by 0.8% in the second quarter. Prudential Financial Inc. now owns 39,897 shares of the company’s stock worth $788,000 after buying an additional 330 shares during the last quarter. SG Americas Securities LLC boosted its position in Pinnacle Entertainment by 10.4% in the first quarter. SG Americas Securities LLC now owns 14,145 shares of the company’s stock worth $276,000 after buying an additional 1,338 shares during the last quarter. Teachers Advisors LLC boosted its position in Pinnacle Entertainment by 3.5% in the first quarter. Teachers Advisors LLC now owns 97,240 shares of the company’s stock worth $1,898,000 after buying an additional 3,245 shares during the last quarter. Algert Global LLC boosted its position in Pinnacle Entertainment by 3.1% in the second quarter. Algert Global LLC now owns 120,123 shares of the company’s stock worth $2,374,000 after buying an additional 3,663 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Pinnacle Entertainment by 6.9% in the first quarter. Parametric Portfolio Associates LLC now owns 92,948 shares of the company’s stock worth $1,814,000 after buying an additional 5,999 shares during the last quarter. Hedge funds and other institutional investors own 89.45% of the company’s stock.
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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