Golden Entertainment (NASDAQ:GDEN) Releases Earnings Results, Misses Estimates By $0.12 EPS

by · The Markets Daily

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

Golden Entertainment Trading Up 0.6%

Shares of NASDAQ:GDEN traded up $0.17 during midday trading on Friday, hitting $28.90. 249,901 shares of the stock traded hands, compared to its average volume of 220,850. 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 is $27.72 and its two-hundred day moving average is $26.16. The stock has a market capitalization of $756.60 million, a PE ratio of 160.56 and a beta of 1.47. Golden Entertainment has a one year low of $19.57 and a one year high of $32.74.

Golden Entertainment Dividend Announcement

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

Institutional Trading of Golden Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Golden Entertainment during the 2nd quarter valued at about $27,000. CIBC Private Wealth Group LLC purchased a new stake in Golden Entertainment in the fourth quarter worth about $33,000. Parkside Financial Bank & Trust bought a new position in shares of Golden Entertainment during the fourth quarter valued at approximately $55,000. Tower Research Capital LLC TRC lifted its holdings in shares of Golden Entertainment by 168.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after purchasing an additional 1,680 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Golden Entertainment by 43.7% during 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. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Wall Street Analyst Weigh In

GDEN has been the topic of several research reports. Truist Financial lifted their price target 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. Citizens Jmp cut shares of Golden Entertainment from a “market outperform” rating to a “hold” rating in a research report on Friday, November 7th. Zacks Research raised shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Wells Fargo & Company restated 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. Finally, Weiss Ratings upgraded Golden Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.75.

View Our Latest Stock Report on Golden Entertainment

About Golden Entertainment

(Get Free Report)

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.

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