NEW YORK (TheStreet) -- Pinnacle Entertainment
(PNK - Get Report) shares are tanking, down -6.9% to $22.38, on Thursday after reporting its second quarter earnings results.
The casino operator reported that net revenues rose 108% to $555.2 million, missing analysts analyst estimates of $557.1 million.
Earnings for the quarter were 37 cents per diluted share, 9 cents short of analysts guidance.
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TheStreet Ratings team rates PINNACLE ENTERTAINMENT INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:"We rate PINNACLE ENTERTAINMENT INC (PNK) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."
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