Pinnacle Airlines Soars 14.5% On Earnings Beat (PNCL)

Shares of Pinnacle Airlines Corp. PNCL are currently up 14.5% at $6.48 per share during Tuesday afternoon trading. Today's trading range for shares of Pinnacle Airlines Corp has been between $5.87 and $6.67 per share. The consensus price target of analysts covering the company's stock is $8.63 per share. Volume of 272,000 shares is nearly 4 times the daily average volume of 70,000 shares. Pinnacle Airlines Corp. (PNCL) released financial results early Tuesday morning that easily beat Wall Street estimates. Pinnacle Airlines Corp reported 3rd quarter earnings of 51 cents per share, on revenue of $302.3 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 41 cents per share, on revenue of $271.06 million. President and chief executive officer Philip Trenary said, "I want to thank the People of Pinnacle Airlines Corp. for delivering a strong financial quarter for our shareholders. Both Pinnacle Airlines and Colgan Air reported solid financial results in the third quarter of 2010, and the acquisition of Mesaba was accretive from day one." Read more from Benzinga's Company news.