Pinnacle Entertainment (NASDAQ:PNK) Rating Lowered to Hold at Citigroup

Pinnacle Entertainment (NASDAQ:PNK) was downgraded by stock analysts at Citigroup to a “hold” rating in a research note issued on Tuesday, December 19th, The Fly reports.

Several other analysts have also issued reports on PNK. BidaskClub lowered Pinnacle Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Telsey Advisory Group increased their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. Bank of America increased their price objective on Pinnacle Entertainment from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Stifel Nicolaus increased their price objective on Pinnacle Entertainment from $23.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Finally, Deutsche Bank increased their price objective on Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Pinnacle Entertainment has a consensus rating of “Hold” and a consensus price target of $27.57.

Shares of Pinnacle Entertainment (NASDAQ:PNK) opened at $32.84 on Tuesday. The company has a market capitalization of $2,135.94, a price-to-earnings ratio of 65.68 and a beta of 1.45. The company has a quick ratio of 0.68, a current ratio of 0.71 and a debt-to-equity ratio of -11.36. Pinnacle Entertainment has a 12-month low of $13.61 and a 12-month high of $33.59.

Pinnacle Entertainment (NASDAQ:PNK) last issued its earnings results on Tuesday, November 7th. The company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $647.40 million during the quarter, compared to analysts’ expectations of $652.13 million. During the same quarter last year, the firm posted ($0.01) earnings per share. Pinnacle Entertainment’s revenue was up 8.8% compared to the same quarter last year. research analysts expect that Pinnacle Entertainment will post 0.81 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Pinnacle Entertainment in the third quarter worth about $150,000. Meeder Asset Management Inc. increased 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 purchasing an additional 2,166 shares during the period. Pacad Investment Ltd. increased its stake in shares of Pinnacle Entertainment by 212.3% in the second quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock worth $191,000 after purchasing an additional 6,580 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Pinnacle Entertainment in the third quarter worth about $202,000. Finally, Macquarie Group Ltd. bought a new position in shares of Pinnacle Entertainment in the third quarter worth about $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.

The Fly

Analyst Recommendations for Pinnacle Entertainment (NASDAQ:PNK)

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