Equities analysts predict that Pinnacle Entertainment Inc (NASDAQ:PNK) will announce sales of $639.87 million for the current quarter, Zacks reports. Four analysts have issued estimates for Pinnacle Entertainment’s earnings, with estimates ranging from $633.28 million to $645.40 million. Pinnacle Entertainment reported sales of $637.42 million during the same quarter last year, which indicates a positive year over year growth rate of 0.4%. The company is scheduled to report its next earnings results on Wednesday, February 28th.

On average, 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 anticipate that the firm will post sales of $2.62 billion per share, with estimates ranging from $2.60 billion to $2.64 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Pinnacle Entertainment.

Pinnacle Entertainment (NASDAQ:PNK) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. Pinnacle Entertainment had a net margin of 1.23% and a negative return on equity of 13.12%. The business had revenue of $647.40 million during the quarter, compared to the consensus estimate of $652.13 million. During the same period in the prior year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year.

A number of research firms have weighed in on PNK. ValuEngine cut shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Pinnacle Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Barclays boosted their target price on shares of Pinnacle Entertainment from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. Bank of America boosted their target price on shares of Pinnacle Entertainment from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, Deutsche Bank boosted their target price on shares of Pinnacle Entertainment from $20.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.57.

Pinnacle Entertainment (PNK) traded up $0.22 on Thursday, reaching $31.15. 412,700 shares of the company’s stock were exchanged, compared to its average volume of 509,840. The company has a current ratio of 0.71, a quick ratio of 0.68 and a debt-to-equity ratio of -11.36. The stock has a market capitalization of $1,777.01, a PE ratio of 40.70, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. Pinnacle Entertainment has a 52-week low of $13.61 and a 52-week high of $33.59.

In other Pinnacle Entertainment news, Chairman Anthony Michael Sanfilippo purchased 21,600 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were bought at an average cost of $18.85 per share, for a total transaction of $407,160.00. Following the purchase, the chairman now owns 828,562 shares of the company’s stock, valued at approximately $15,618,393.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.33% of the company’s stock.

Several hedge funds have recently made changes to their positions in PNK. Bamco Inc. NY increased its holdings in Pinnacle Entertainment by 5.6% during the 3rd quarter. Bamco Inc. NY now owns 5,203,966 shares of the company’s stock worth $110,897,000 after acquiring an additional 275,100 shares during the period. Vanguard Group Inc. increased its holdings in Pinnacle Entertainment by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,501,854 shares of the company’s stock worth $88,957,000 after acquiring an additional 204,044 shares during the period. Jennison Associates LLC increased its holdings in Pinnacle Entertainment by 12.5% during the 3rd quarter. Jennison Associates LLC now owns 3,537,786 shares of the company’s stock worth $75,390,000 after acquiring an additional 393,813 shares during the period. JPMorgan Chase & Co. increased its holdings in Pinnacle Entertainment by 56.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,326,851 shares of the company’s stock worth $49,608,000 after acquiring an additional 843,646 shares during the period. Finally, State Street Corp increased its holdings in Pinnacle Entertainment by 12.2% during the 2nd quarter. State Street Corp now owns 1,217,256 shares of the company’s stock worth $24,053,000 after acquiring an additional 132,136 shares during the period. Institutional investors own 92.73% 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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