Pinnacle Entertainment, Inc. (PNK) Given Consensus Rating of “Hold” by Analysts

Shares of Pinnacle Entertainment, Inc. (NASDAQ:PNK) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $19.83.

Several equities research analysts have commented on PNK shares. Zacks Investment Research lowered Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Barclays PLC upped their price target on Pinnacle Entertainment from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 30th. ValuEngine upgraded Pinnacle Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, May 20th. Telsey Advisory Group increased their target price on Pinnacle Entertainment from $22.00 to $27.00 and gave the company an “outperform” rating in a research note on Wednesday, May 10th. Finally, Deutsche Bank AG increased their target price on Pinnacle Entertainment from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, April 28th.

Shares of Pinnacle Entertainment (NASDAQ PNK) traded down 3.39% during mid-day trading on Tuesday, hitting $19.11. The company had a trading volume of 259,185 shares. Pinnacle Entertainment has a 12 month low of $10.54 and a 12 month high of $22.10. The firm has a 50-day moving average of $19.86 and a 200-day moving average of $18.57. The company’s market cap is $1.10 billion.

Pinnacle Entertainment (NASDAQ:PNK) last released its earnings results on Wednesday, May 10th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.12. The business had revenue of $640 million for the quarter, compared to analysts’ expectations of $639.86 million. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 earnings per share. On average, analysts expect that Pinnacle Entertainment will post $0.97 EPS for the current year.

A number of large investors have recently modified their holdings of PNK. Meeder Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment during the second quarter worth $121,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pinnacle Entertainment during the first quarter worth $140,000. Karp Capital Management Corp acquired a new stake in shares of Pinnacle Entertainment during the first quarter worth $220,000. AQR Capital Management LLC acquired a new stake in shares of Pinnacle Entertainment during the fourth quarter worth $170,000. Finally, Airain ltd acquired a new stake in shares of Pinnacle Entertainment during the first quarter worth $250,000. Hedge funds and other institutional investors own 88.56% of the company’s stock.

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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.