Golden Entertainment (NASDAQ:GDEN) Announces Quarterly Earnings Results

Golden Entertainment (NASDAQ:GDEN) posted its quarterly earnings data on Friday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.12), Zacks reports. Golden Entertainment had a return on equity of 1.20% and a net margin of 0.85%.The business had revenue of $155.63 million during the quarter, compared to analysts’ expectations of $166.61 million.

Golden Entertainment Trading Up 0.6%

Shares of GDEN opened at $28.90 on Friday. Golden Entertainment has a twelve month low of $19.57 and a twelve month high of $32.74. The stock has a market cap of $756.60 million, a PE ratio of -115.60 and a beta of 1.47. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $27.72 and its 200-day moving average price is $26.16.

Golden Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, March 18th. Golden Entertainment’s payout ratio is presently 555.56%.

Analysts Set New Price Targets

A number of research firms have weighed in on GDEN. Zacks Research upgraded shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Citizens Jmp downgraded Golden Entertainment from a “market outperform” rating to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings raised Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Truist Financial boosted their target price on Golden Entertainment from $25.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Finally, Wells Fargo & Company reaffirmed a “sell” rating and set a $30.00 price target (down from $34.00) on shares of Golden Entertainment in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Golden Entertainment currently has a consensus rating of “Hold” and an average target price of $32.75.

Institutional Trading of Golden Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Golden Entertainment in the second quarter worth $27,000. CIBC Private Wealth Group LLC purchased a new position in Golden Entertainment during the fourth quarter worth about $33,000. Parkside Financial Bank & Trust bought a new position in Golden Entertainment in the 4th quarter worth about $55,000. Tower Research Capital LLC TRC raised its holdings in shares of Golden Entertainment by 168.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after acquiring an additional 1,680 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Golden Entertainment by 43.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,305 shares of the company’s stock valued at $117,000 after acquiring an additional 1,309 shares in the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.

Golden Entertainment Company Profile

Golden Entertainment, Inc is a diversified gaming and hospitality company that operates in the casino, tavern-casino and slot route markets. The company’s core activities encompass the ownership and management of full-service resort casinos, a portfolio of branded neighborhood tavern-casinos and a large slot distribution network. Headquartered in Summerlin, Nevada, Golden Entertainment serves leisure and local gaming customers across multiple Western U.S. markets.

In its casino and tavern-casino segment, Golden Entertainment owns and operates properties such as Bronco Billy’s Casino & Hotel in Cripple Creek, Colorado, along with a collection of PT’s branded venues throughout Southern Nevada.