Golden Entertainment (NASDAQ:GDEN) Announces Earnings Results

Golden Entertainment (NASDAQ:GDEN) released its earnings results on Friday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12), Zacks reports. The business had revenue of $155.63 million for the quarter, compared to analyst estimates of $166.61 million. Golden Entertainment had a return on equity of 1.20% and a net margin of 0.85%.

Golden Entertainment Stock Up 0.6%

Shares of NASDAQ GDEN traded up $0.17 during midday trading on Friday, reaching $28.90. The company’s stock had a trading volume of 249,901 shares, compared to its average volume of 220,850. The company has a current ratio of 1.10, a quick ratio of 1.02 and a debt-to-equity ratio of 0.96. Golden Entertainment has a fifty-two week low of $19.57 and a fifty-two week high of $32.74. The stock has a 50 day simple moving average of $27.72 and a 200-day simple moving average of $26.16. The stock has a market capitalization of $756.60 million, a price-to-earnings ratio of 160.56 and a beta of 1.47.

Golden Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, March 18th. Golden Entertainment’s dividend payout ratio (DPR) is currently 555.56%.

Institutional Investors Weigh In On Golden Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Golden Entertainment during the second quarter worth $27,000. CIBC Private Wealth Group LLC bought a new stake in Golden Entertainment in the 4th quarter valued at $33,000. Parkside Financial Bank & Trust acquired a new stake in Golden Entertainment during the 4th quarter valued at $55,000. Tower Research Capital LLC TRC boosted its position in Golden Entertainment by 168.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $79,000 after purchasing an additional 1,680 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Golden Entertainment by 43.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,305 shares of the company’s stock valued at $117,000 after purchasing an additional 1,309 shares during the last quarter. Institutional investors own 70.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GDEN. Wells Fargo & Company restated a “sell” rating and issued a $30.00 price target (down from $34.00) on shares of Golden Entertainment in a research report on Thursday, November 6th. Zacks Research upgraded Golden Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings upgraded Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 28th. Citizens Jmp downgraded shares of Golden Entertainment from a “market outperform” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Truist Financial lifted their price objective on shares of Golden Entertainment from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Golden Entertainment has a consensus rating of “Hold” and a consensus price target of $32.75.

About Golden Entertainment

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.