Revenue Update on Pinnacle Entertainment Inc(NYSE:PNK)

Pinnacle Entertainment Inc(NYSE:PNK) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $637.424M. Analysts estimated a revenue of $630.190M. The revenues were 1.15% above the estimates. Earnings per share were $-0.16. The reported EPS was below estimates by -33.33%. Analysts had estimated an EPS of $-0.12.

In a different note, SunTrust Robinson Humphrey said it Initiates Coverage On Pinnacle Entertainment Inc, according to a research note issued on Feb 10, 2017. In the research note, the firm Announces the price-target to $17 per share. The shares have been rated ‘Hold’ by the firm.

Pinnacle Entertainment Inc (PNK) made into the market gainers list on Wednesdays trading session with the shares advancing 3.19% or 0.52 points. Due to strong positive momentum, the stock ended at $16.8, which is also near the day’s high of $17.32. The stock began the session at $16.18 and the volume stood at 6,91,989 shares. The 52-week high of the shares is $17.32 and the 52 week low is $9.72. The company has a current market capitalization of $936 M and it has 5,57,00,000 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Sep 16, 2016, Anthony Michael Sanfilippo (CEO) purchased 20,750 shares at $11.20 per share price.Also, On Jun 15, 2016, Troy A Stremming (EVP, Gov’t Relations) purchased 15,000 shares at $11.40 per share price.On Jun 7, 2016, Carlos Ruisanchez (CFO) purchased 30,000 shares at $11.02 per share price, according to the Form-4 filing with the securities and exchange commission.

Pinnacle Entertainment Inc. (Pinnacle) is an owner operator and developer of casinos and related hospitality and entertainment facilities. The key properties in the Company’s 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 Company’s 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 Company’s 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.

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