Golden Entertainment, Inc. (NASDAQ:GDEN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $35.3333.

A number of brokerages have recently issued reports on GDEN. Citigroup reaffirmed an “outperform” rating on shares of Golden Entertainment in a report on Friday, July 18th. Truist Financial downgraded Golden Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the company from $36.00 to $34.00 in a report on Wednesday, July 16th. Wells Fargo & Company lowered their price target on Golden Entertainment from $36.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, August 12th. Macquarie lowered their target price on Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, JMP Securities lowered their target price on Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating on the stock in a report on Friday, July 18th.

Institutional Inflows and Outflows

A number of institutional investors 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 about $27,000. Parallel Advisors LLC bought a new position in shares of Golden Entertainment in the second quarter worth about $35,000. Lazard Asset Management LLC raised its stake in shares of Golden Entertainment by 405.7% in the fourth quarter. Lazard Asset Management LLC now owns 1,871 shares of the company’s stock worth $59,000 after buying an additional 1,501 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Golden Entertainment by 168.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $79,000 after buying an additional 1,680 shares during the period. Finally, Inscription Capital LLC bought a new position in shares of Golden Entertainment in the first quarter worth about $165,000. Institutional investors own 70.73% of the company’s stock.

Golden Entertainment Trading Down 1.7%

NASDAQ GDEN opened at $24.40 on Friday. Golden Entertainment has a 12 month low of $22.66 and a 12 month high of $35.49. The stock has a market cap of $638.30 million, a P/E ratio of 45.19 and a beta of 1.65. The stock’s fifty day moving average price is $26.99 and its 200-day moving average price is $27.40. The company has a current ratio of 1.12, a quick ratio of 1.03 and a debt-to-equity ratio of 0.95.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $163.62 million for the quarter, compared to the consensus estimate of $169.70 million. Golden Entertainment had a return on equity of 3.23% and a net margin of 2.35%. As a group, equities analysts forecast that Golden Entertainment will post 0.2 EPS for the current fiscal year.

Golden Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Thursday, September 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. Golden Entertainment’s dividend payout ratio is currently 185.19%.

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.