Pinnacle Entertainment, Inc. (PNK) PT Raised to $27.00
Pinnacle Entertainment, Inc. (NASDAQ:PNK) had its price target boosted by equities researchers at Deutsche Bank AG from $20.00 to $27.00 in a report issued on Wednesday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s price target points to a potential upside of 0.71% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. Bank of America Corporation raised their target price on shares of Pinnacle Entertainment from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. BidaskClub raised shares of Pinnacle Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, October 7th. Zacks Investment Research downgraded shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Stifel Nicolaus raised their target price on shares of Pinnacle Entertainment from $23.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Telsey Advisory Group raised their target price on shares of Pinnacle Entertainment from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, October 12th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $26.17.
Shares of Pinnacle Entertainment (PNK) traded up $0.54 on Wednesday, reaching $26.81. 43,346 shares of the company were exchanged, compared to its average volume of 499,570. The stock has a market capitalization of $1,538.62, a P/E ratio of 51.21, a P/E/G ratio of 3.77 and a beta of 1.38. The company has a debt-to-equity ratio of -11.69, a current ratio of 0.79 and a quick ratio of 0.76. Pinnacle Entertainment has a 1-year low of $11.52 and a 1-year high of $27.37.
Pinnacle Entertainment (NASDAQ:PNK) last announced its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $647.40 million for the quarter, compared to the consensus estimate of $652.13 million. Pinnacle Entertainment had a net margin of 0.68% and a negative return on equity of 8.88%. Pinnacle Entertainment’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share. research analysts anticipate that Pinnacle Entertainment will post 0.85 EPS for the current year.
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In other news, EVP Neil E. Walkoff sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $19.14, for a total value of $1,148,400.00. Following the transaction, the executive vice president now owns 282,076 shares in the company, valued at $5,398,934.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Anthony Michael Sanfilippo bought 21,600 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was purchased at an average price of $18.85 per share, for a total transaction of $407,160.00. Following the acquisition, the chairman now directly owns 828,562 shares of the company’s stock, valued at approximately $15,618,393.70. The disclosure for this purchase can be found here. Company insiders own 8.33% of the company’s stock.
Several institutional investors have recently modified their holdings of PNK. JPMorgan Chase & Co. grew its holdings in shares of Pinnacle Entertainment by 469.3% in the second quarter. JPMorgan Chase & Co. now owns 1,483,205 shares of the company’s stock worth $29,308,000 after purchasing an additional 1,222,680 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pinnacle Entertainment by 339.8% in the second quarter. Renaissance Technologies LLC now owns 1,031,300 shares of the company’s stock worth $20,378,000 after purchasing an additional 796,800 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Pinnacle Entertainment by 77.4% in the second quarter. Bank of New York Mellon Corp now owns 1,167,335 shares of the company’s stock worth $23,065,000 after purchasing an additional 509,133 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Pinnacle Entertainment by 12.5% in the third quarter. Jennison Associates LLC now owns 3,537,786 shares of the company’s stock worth $75,390,000 after purchasing an additional 393,813 shares during the last quarter. Finally, Numeric Investors LLC bought a new position in shares of Pinnacle Entertainment in the second quarter worth approximately $6,661,000. Hedge funds and other institutional investors own 88.91% 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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