Pinnacle Entertainment (PNK) Receives “Average” Rating from SunTrust Banks

SunTrust Banks reiterated their average rating on shares of Pinnacle Entertainment (NASDAQ:PNK) in a research report report published on Monday morning. They currently have a $35.00 target price on the stock. SunTrust Banks also issued estimates for Pinnacle Entertainment’s Q4 2017 earnings at $0.08 EPS, FY2017 earnings at $0.74 EPS, Q4 2018 earnings at $0.12 EPS, FY2018 earnings at $0.95 EPS and FY2019 earnings at $1.09 EPS.

Several other research firms have also recently weighed in on PNK. BidaskClub cut Pinnacle Entertainment from a buy rating to a hold rating in a report on Wednesday, January 31st. Citigroup cut Pinnacle Entertainment to a hold rating in a report on Tuesday, December 19th. Susquehanna Bancshares restated a neutral rating on shares of Pinnacle Entertainment in a report on Tuesday, December 19th. Macquarie cut Pinnacle Entertainment from an outperform rating to a neutral rating in a report on Tuesday, December 19th. Finally, ValuEngine cut Pinnacle Entertainment from a buy rating to a hold rating in a report on Friday, December 1st. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $30.14.

Pinnacle Entertainment (NASDAQ:PNK) opened at $30.30 on Monday. Pinnacle Entertainment has a 12-month low of $15.86 and a 12-month high of $33.59. The company has a debt-to-equity ratio of -11.36, a current ratio of 0.71 and a quick ratio of 0.68. The stock has a market capitalization of $2,063.98, a PE ratio of 60.60 and a beta of 1.44.

Pinnacle Entertainment (NASDAQ:PNK) last released its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Pinnacle Entertainment had a negative return on equity of 13.12% and a net margin of 1.23%. The firm had revenue of $647.40 million for the quarter, compared to analysts’ expectations of $652.13 million. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. equities research analysts forecast that Pinnacle Entertainment will post 0.81 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Pinnacle Entertainment in the third quarter worth approximately $150,000. Meeder Asset Management Inc. lifted its stake in shares of Pinnacle Entertainment by 35.5% in the third quarter. Meeder Asset Management Inc. now owns 8,266 shares of the company’s stock worth $176,000 after acquiring an additional 2,166 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Pinnacle Entertainment in the third quarter worth approximately $202,000. Connable Office Inc. acquired a new position in shares of Pinnacle Entertainment in the fourth quarter worth approximately $242,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Pinnacle Entertainment in the third quarter worth approximately $271,000. 84.14% of the stock is currently 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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