Pinnacle Entertainment Price Target Cut to $28.00 (PNK)
Research analysts at Deutsche Bank dropped their price target on shares of Pinnacle Entertainment (NYSE:PNK) from $30.00 to $28.00 in a report released on Friday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target would indicate a potential upside of 21.90% from the company’s current price.
Pinnacle Entertainment (NYSE:PNK) traded down 5.39% on Friday, hitting $21.7325. The stock had a trading volume of 1,701,756 shares. Pinnacle Entertainment has a one year low of $13.28 and a one year high of $26.58. The stock has a 50-day moving average of $24.60 and a 200-day moving average of $23.58. The company’s market cap is $1.286 billion.
Pinnacle Entertainment (NYSE:PNK) last announced its earnings results on Wednesday, November 6th. The company reported $0.11 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.21. The company had revenue of $418.90 million for the quarter, compared to the consensus estimate of $425.15 million. During the same quarter last year, the company posted $0.30 earnings per share. Pinnacle Entertainment’s revenue was up 63.6% compared to the same quarter last year. On average, analysts predict that Pinnacle Entertainment will post $0.96 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Pinnacle Entertainment from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, January 16th. They now have a $22.40 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “sell” rating on shares of Pinnacle Entertainment in a research note to investors on Monday, January 6th. Finally, analysts at ISI Group raised their price target on shares of Pinnacle Entertainment from $21.00 to $25.00 in a research note to investors on Friday, November 8th. They now have a “neutral” rating on the stock. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.96.
Pinnacle Entertainment, Inc (NYSE:PNK) is an owner, operator and developer of casinos and related hospitality and entertainment facilities.
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