Golden Entertainment, Inc. Plans Quarterly Dividend of $0.25 (NASDAQ:GDEN)

Golden Entertainment, Inc. (NASDAQ:GDEN) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.25 per share on Tuesday, July 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, June 14th.

Golden Entertainment has a payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Golden Entertainment to earn $1.53 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 65.4%.

Golden Entertainment Stock Down 1.4 %

Shares of NASDAQ GDEN traded down $0.44 on Friday, reaching $32.01. 113,720 shares of the company’s stock traded hands, compared to its average volume of 164,760. Golden Entertainment has a 12 month low of $30.35 and a 12 month high of $47.49. The business’s 50 day simple moving average is $34.00 and its two-hundred day simple moving average is $36.41. The company has a market cap of $926.66 million, a price-to-earnings ratio of 3.92 and a beta of 2.26. The company has a quick ratio of 2.30, a current ratio of 2.35 and a debt-to-equity ratio of 1.22.

Golden Entertainment (NASDAQ:GDEN) last announced its earnings results on Thursday, February 29th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). Golden Entertainment had a net margin of 24.28% and a return on equity of 6.40%. The business had revenue of $230.69 million for the quarter, compared to the consensus estimate of $228.75 million. As a group, equities research analysts forecast that Golden Entertainment will post 1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. B. Riley assumed coverage on shares of Golden Entertainment in a research report on Friday, April 26th. They set a “buy” rating and a $46.00 price target for the company. JMP Securities reduced their price target on shares of Golden Entertainment from $48.00 to $45.00 and set a “market outperform” rating for the company in a research report on Friday, March 1st. Truist Financial cut their target price on shares of Golden Entertainment from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. StockNews.com downgraded shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Golden Entertainment from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Golden Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Golden Entertainment Company Profile

Golden Entertainment, Inc owns and operates a diversified entertainment platform in the United States. The company operates through four segments; Nevada Casino Resorts, Nevada Locals Casinos, Nevada Taverns, and Distributed Gaming. It also operates casino, casino resorts, and taverns; and slot machines in third party non-casino locations.