Pinnacle Entertainment (PNK) Rating Lowered to Neutral at Macquarie

Pinnacle Entertainment (NASDAQ:PNK) was downgraded by research analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday.

PNK has been the subject of several other research reports. BidaskClub raised shares of Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, September 18th. Stifel Nicolaus raised their price objective on shares of Pinnacle Entertainment from $23.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Barclays raised their price objective on shares of Pinnacle Entertainment from $25.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 8th. ValuEngine downgraded shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Deutsche Bank raised their price objective on shares of Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Pinnacle Entertainment presently has an average rating of “Buy” and a consensus target price of $27.57.

Shares of Pinnacle Entertainment (NASDAQ:PNK) opened at $31.19 on Tuesday. The firm has a market cap of $1,778.16, a P/E ratio of 40.72, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of -11.36. Pinnacle Entertainment has a 52-week low of $13.61 and a 52-week high of $33.59.

Pinnacle Entertainment (NASDAQ:PNK) last released 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 during the quarter, compared to the consensus estimate of $652.13 million. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. equities research analysts forecast that Pinnacle Entertainment will post 0.81 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Bamco Inc. NY grew its position in Pinnacle Entertainment by 5.6% in the 3rd quarter. Bamco Inc. NY now owns 5,203,966 shares of the company’s stock valued at $110,897,000 after purchasing an additional 275,100 shares during the period. Vanguard Group Inc. grew its position in Pinnacle Entertainment by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,501,854 shares of the company’s stock valued at $88,957,000 after purchasing an additional 204,044 shares during the period. Jennison Associates LLC grew its position in Pinnacle Entertainment by 12.5% in the 3rd quarter. Jennison Associates LLC now owns 3,537,786 shares of the company’s stock valued at $75,390,000 after purchasing an additional 393,813 shares during the period. JPMorgan Chase & Co. grew its position in Pinnacle Entertainment by 56.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,326,851 shares of the company’s stock valued at $49,608,000 after purchasing an additional 843,646 shares during the period. Finally, State Street Corp grew its position in Pinnacle Entertainment by 12.2% in the 2nd 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 period. 92.73% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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