Pinnacle Entertainment, Inc. (PNK) Receives $21.60 Consensus Target Price from Analysts
Shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) have been given an average recommendation of “Hold” by the nine brokerages that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.60.
Several research analysts have issued reports on PNK shares. Zacks Investment Research raised Pinnacle Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. BidaskClub downgraded 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 issued a $23.00 price target on shares of Pinnacle Entertainment in a research note on Friday, August 11th.
In related news, EVP Neil E. Walkoff sold 60,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 282,076 shares in the company, valued at approximately $5,398,934.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Anthony Michael Sanfilippo acquired 21,600 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average price of $18.85 per share, with a total value of $407,160.00. Following the transaction, the chairman now owns 828,562 shares in the company, valued at $15,618,393.70. The disclosure for this purchase can be found here. Corporate insiders own 8.33% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. USA Financial Portformulas Corp bought a new stake in shares of Pinnacle Entertainment in the 2nd quarter valued at $492,000. Piedmont Investment Advisors LLC increased its position in shares of Pinnacle Entertainment by 43.7% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 38,842 shares of the company’s stock valued at $768,000 after buying an additional 11,816 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Pinnacle Entertainment by 0.6% in the 2nd quarter. Sterling Capital Management LLC now owns 52,670 shares of the company’s stock valued at $1,041,000 after buying an additional 289 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Pinnacle Entertainment in the 2nd quarter valued at $277,000. Finally, Caxton Associates LP bought a new stake in shares of Pinnacle Entertainment in the 2nd quarter valued at $2,272,000. Institutional investors and hedge funds own 89.59% of the company’s stock.
Shares of Pinnacle Entertainment (NASDAQ PNK) traded up 0.41% during trading on Friday, hitting $21.86. The company had a trading volume of 374,985 shares. Pinnacle Entertainment has a 12-month low of $11.36 and a 12-month high of $22.05. The firm has a 50 day moving average of $20.47 and a 200 day moving average of $20.47. The stock has a market cap of $1.26 billion, a PE ratio of 77.52 and a beta of 1.30.
Pinnacle Entertainment (NASDAQ:PNK) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.07). Pinnacle Entertainment had a negative return on equity of 8.88% and a net margin of 0.68%. The firm had revenue of $653.60 million for the quarter, compared to analyst estimates of $647.36 million. During the same period in the prior year, the company posted ($8.04) EPS. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that Pinnacle Entertainment will post $0.79 earnings per share for the current fiscal year.
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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