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

Shares of Golden Entertainment, Inc. (NASDAQ:GDEN) have received an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $32.75.

A number of equities analysts recently weighed in on GDEN shares. Truist Financial lifted their price target on 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 report on Friday, November 7th. Zacks Research raised shares of Golden Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings lowered shares of Golden Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday.

Golden Entertainment Stock Performance

GDEN opened at $28.57 on Friday. The firm has a market cap of $748.53 million, a PE ratio of -114.28 and a beta of 1.41. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $27.92 and a 200-day simple moving average of $26.28. Golden Entertainment has a fifty-two week low of $19.57 and a fifty-two week high of $32.74.

Golden Entertainment (NASDAQ:GDEN) last announced its earnings results on Friday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). Golden Entertainment had a positive return on equity of 0.51% and a negative net margin of 0.95%.The company had revenue of $155.63 million for the quarter, compared to analyst estimates of $166.61 million. As a group, equities analysts predict that Golden Entertainment will post 0.2 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders 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 yield of 3.5%. The ex-dividend date of this dividend is Wednesday, March 18th. Golden Entertainment’s payout ratio is -400.00%.

Institutional Trading of Golden Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of GDEN. Raymond James Financial Inc. purchased a new position in shares of Golden Entertainment during the second quarter valued at $27,000. CIBC Private Wealth Group LLC purchased a new stake in Golden Entertainment in the 4th quarter worth about $33,000. Parkside Financial Bank & Trust acquired a new stake in Golden Entertainment during the 4th quarter worth about $55,000. Tower Research Capital LLC TRC boosted its position in Golden Entertainment by 168.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock worth $79,000 after acquiring an additional 1,680 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Golden Entertainment by 43.7% during 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. Institutional investors and hedge funds own 70.73% of the company’s stock.

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.