Pinnacle Entertainment, Inc. (PNK) Given Consensus Recommendation of “Hold” by Analysts
Shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $21.60.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Barclays PLC boosted their target price on shares of Pinnacle Entertainment from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, May 30th. ValuEngine raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, May 20th. BidaskClub lowered shares of Pinnacle Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $23.00 target price on shares of Pinnacle Entertainment in a research note on Friday, August 11th.
Shares of Pinnacle Entertainment (NASDAQ PNK) traded up 1.32% during midday trading on Wednesday, reaching $19.13. 518,696 shares of the company were exchanged. The company’s 50-day moving average price is $19.49 and its 200 day moving average price is $19.44. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 67.84 and a beta of 1.31. Pinnacle Entertainment has a 52-week low of $11.10 and a 52-week high of $22.10.
Pinnacle Entertainment (NASDAQ:PNK) last posted its earnings results on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.07. The firm had revenue of $653.60 million for the quarter, compared to analyst estimates of $647.36 million. Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($8.04) earnings per share. On average, equities analysts predict that Pinnacle Entertainment will post $0.81 earnings per share for the current year.
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In other news, Director Jaynie M. Studenmund sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $19.89, for a total value of $397,800.00. Following the completion of the sale, the director now directly owns 78,230 shares of the company’s stock, valued at approximately $1,555,994.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Neil E. Walkoff sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $19.14, for a total transaction of $1,148,400.00. Following the completion of the sale, the executive vice president now directly owns 282,076 shares of the company’s stock, valued at $5,398,934.64. The disclosure for this sale can be found here. Corporate insiders own 8.33% of the company’s stock.
Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment in the 2nd quarter worth approximately $121,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment in the 1st quarter worth approximately $140,000. Pacad Investment Ltd. lifted its stake in Pinnacle Entertainment by 212.3% during the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock valued at $191,000 after purchasing an additional 6,580 shares during the last quarter. Karp Capital Management Corp acquired a new stake in Pinnacle Entertainment during the first quarter valued at approximately $220,000. Finally, Airain ltd acquired a new stake in Pinnacle Entertainment during the first quarter valued at approximately $250,000. 89.82% of the stock is owned by institutional investors.
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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