Pinnacle Entertainment Inc (PNK) Expected to Post Quarterly Sales of $639.87 Million

Brokerages forecast that Pinnacle Entertainment Inc (NASDAQ:PNK) will post sales of $639.87 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Pinnacle Entertainment’s earnings, with the lowest sales estimate coming in at $633.28 million and the highest estimate coming in at $645.40 million. Pinnacle Entertainment reported sales of $637.42 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.4%. The firm is scheduled to report its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Pinnacle Entertainment will report full year sales of $639.87 million for the current financial year, with estimates ranging from $2.57 billion to $2.59 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.62 billion per share, with estimates ranging from $2.60 billion to $2.64 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Pinnacle Entertainment.

Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Tuesday, November 7th. The company reported $0.23 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 company had revenue of $647.40 million during the quarter, compared to the consensus estimate of $652.13 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. Pinnacle Entertainment’s quarterly revenue was up 8.8% compared to the same quarter last year.

A number of equities analysts have commented on the company. Deutsche Bank lifted their target price on Pinnacle Entertainment from $20.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. ValuEngine downgraded Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Telsey Advisory Group lifted their target price on Pinnacle Entertainment from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, October 12th. Barclays lifted their target price on Pinnacle Entertainment from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. Finally, Bank of America boosted their price objective on Pinnacle Entertainment from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $27.57.

Shares of Pinnacle Entertainment (NASDAQ:PNK) traded up $0.12 during mid-day trading on Wednesday, reaching $32.40. The company’s stock had a trading volume of 701,200 shares, compared to its average volume of 664,983. The company has a debt-to-equity ratio of -11.36, a quick ratio of 0.68 and a current ratio of 0.71. Pinnacle Entertainment has a 12 month low of $13.61 and a 12 month high of $33.59. The firm has a market capitalization of $1,870.00 and a P/E ratio of 64.80.

Several hedge funds and other institutional investors have recently modified their holdings of PNK. SG Americas Securities LLC acquired a new position in shares of Pinnacle Entertainment during the third quarter worth approximately $150,000. Meeder Asset Management Inc. boosted its position in shares of Pinnacle Entertainment by 35.5% during the third quarter. Meeder Asset Management Inc. now owns 8,266 shares of the company’s stock worth $176,000 after buying an additional 2,166 shares during the period. Pacad Investment Ltd. boosted its position in shares of Pinnacle Entertainment by 212.3% during the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock worth $191,000 after buying an additional 6,580 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Pinnacle Entertainment during the third quarter worth approximately $202,000. Finally, Macquarie Group Ltd. acquired a new position in shares of Pinnacle Entertainment during the third quarter worth approximately $271,000. Institutional investors and hedge funds own 82.19% 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.

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