Pinnacle Entertainment Inc (PNK) was Upgraded by Telsey Advisory Group to ” Outperform” while Lowering the Price Target of the company shares to $ 19 from a previous price target of $31 . Earlier the firm had a rating of “Market Perform ” on the company shares. Telsey Advisory Group advised their investors in a research report released on May 11, 2016.
Many Wall Street Analysts have commented on Pinnacle Entertainment Inc. Company shares were Reiterated by Deutsche Bank on Apr 5, 2016 to “Hold”, Firm has raised the Price Target to $ 40 from a previous price target of $28 .Pinnacle Entertainment Inc was Resumed by JP Morgan to “Overweight” on Apr 1, 2016. Shares were Reiterated by Telsey Advisory Group on Feb 12, 2016 to “Market Perform” and Lowered the Price Target to $ 31 from a previous price target of $33 .
On the company’s financial health, Pinnacle Entertainment Inc reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Feb 11, 2016. Analyst had a consensus of $0.43. The company had revenue of $558.40 million for the quarter, compared to analysts expectations of $561.77 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Pinnacle Entertainment Inc opened for trading at $11.23 and hit $11.4301 on the upside on Tuesday, eventually ending the session at $11.38, with a gain of 2.06% or 0.23 points. The heightened volatility saw the trading volume jump to 14,87,575 shares. Company has a market cap of $695 M.
In a different news, on Jan 19, 2016, John A Godfrey (EVP, Sec. & GC) sold 1,000 shares at $7.22 per share price.
Pinnacle Entertainment Inc. (Pinnacle) is an owner operator and developer of casinos and related hospitality and entertainment facilities. The key properties in the Companys Midwest segment include Ameristar Council Bluffs Ameristar East Chicago Ameristar Kansas City Ameristar St. Charles Belterra River City and Belterra Park. The key properties in the Companys South segment include Ameristar Vicksburg Boomtown Bossier City Boomtown New Orleans L’Auberge Baton Rouge and L’Auberge Lake Charles. The key properties in the Companys West segment include Ameristar Black Hawk and Cactus Petes and Horseshu. The Company owns and operates around 15 gaming entertainment properties in Colorado Indiana Iowa Louisiana Mississippi Missouri Nevada and Ohio. It also holds a majority interest in the racing license owner as well as a management contract for Retama Park Racetrack located outside of San Antonio Texas.