Pinnacle Entertainment (PNK) Earnings Drive Stock Up 7.7%

Shares of Pinnacle Entertainment, Inc. PNK are currently up 7.7% at $12.99 per share during Thursday afternoon trading. Today's trading range for shares of Pinnacle Entertainment, Inc has been between $12.64 and $13.19 per share. The consensus price target of analysts covering the company's stock is $14.36 per share. Volume of 1.6 million shares is already more than double the daily average volume of 671,000 shares. Pinnacle Entertainment, Inc. (PNK) released financial results on Thursday morning that easily beat Wall Street estimates. Pinnacle Entertainment, Inc reported 3rd quarter adjusted earnings of 10 cents per share, on revenue of $287.8 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of an expected loss of 7 cents per share, on revenue of $282.71 million. President and chief executive officer Anthony Sanfilippo said, "Pinnacle's growth in third quarter revenues and Adjusted EBITDA, together with improvements in Adjusted EBITDA margins, reflect further progress in creating sustainable operating efficiencies across the entire organization while remaining focused on delivering best-in-market guest experiences. With revenue increases in four of our six markets and improved operating execution across our property portfolio, we are benefiting from our disciplined approach to operational excellence and have a focused team that can drive further improvements." Read more from Benzinga's Company news.