Wall Street analysts forecast that Pinnacle Entertainment Inc (NASDAQ:PNK) will report $0.35 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pinnacle Entertainment’s earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.42. Pinnacle Entertainment reported earnings per share of $0.15 in the same quarter last year, which indicates a positive year over year growth rate of 133.3%. The business is scheduled to issue its next quarterly earnings results on Thursday, August 9th.
According to Zacks, analysts expect that Pinnacle Entertainment will report full year earnings of $1.23 per share for the current financial year, with EPS estimates ranging from $0.98 to $1.66. For the next fiscal year, analysts expect that the company will report earnings of $1.54 per share, with EPS estimates ranging from $1.12 to $2.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Pinnacle Entertainment.
Pinnacle Entertainment (NASDAQ:PNK) last announced its quarterly earnings data on Wednesday, May 9th. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $628.40 million during the quarter, compared to analyst estimates of $638.64 million. Pinnacle Entertainment had a negative return on equity of 20.78% and a net margin of 2.66%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of Pinnacle Entertainment by 68.0% during the 4th quarter. American Century Companies Inc. now owns 62,998 shares of the company’s stock valued at $2,062,000 after purchasing an additional 25,500 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Pinnacle Entertainment during the 4th quarter valued at about $609,000. California Public Employees Retirement System lifted its holdings in shares of Pinnacle Entertainment by 10.5% during the 4th quarter. California Public Employees Retirement System now owns 265,137 shares of the company’s stock valued at $8,678,000 after purchasing an additional 25,101 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Pinnacle Entertainment by 4.7% during the 4th quarter. Swiss National Bank now owns 93,400 shares of the company’s stock valued at $3,057,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Connable Office Inc. bought a new position in shares of Pinnacle Entertainment during the 4th quarter valued at about $242,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.
PNK stock traded up $0.01 during midday trading on Monday, reaching $33.00. The stock had a trading volume of 10,654 shares, compared to its average volume of 455,037. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of -12.88. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 32.34 and a beta of 1.40. Pinnacle Entertainment has a twelve month low of $18.30 and a twelve month high of $34.63.
About Pinnacle Entertainment
Pinnacle Entertainment, Inc owns, develops, and operates casinos and related hospitality and entertainment facilities in the United States. It operates through Midwest, South, and West segments. As of February 28, 2018, the company owned and operated 16 gaming entertainment businesses located in Colorado, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, Ohio, and Pennsylvania.
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