Golden Entertainment, Inc. (NASDAQ:GDEN) Expected to Announce Earnings of $0.51 Per Share

Equities research analysts predict that Golden Entertainment, Inc. (NASDAQ:GDEN) will report earnings of $0.51 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Golden Entertainment’s earnings, with estimates ranging from $0.31 to $0.78. Golden Entertainment reported earnings of ($0.25) per share during the same quarter last year, which would indicate a positive year over year growth rate of 304%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Golden Entertainment will report full year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.39 to $5.09. For the next financial year, analysts forecast that the company will report earnings of $2.36 per share, with EPS estimates ranging from $1.60 to $3.51. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Golden Entertainment.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, August 5th. The company reported $2.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $2.28. Golden Entertainment had a return on equity of 39.37% and a net margin of 9.35%. The firm had revenue of $292.47 million during the quarter, compared to the consensus estimate of $247.67 million.

GDEN has been the topic of a number of recent analyst reports. TheStreet raised shares of Golden Entertainment from a “c” rating to a “b-” rating in a report on Monday, August 23rd. Zacks Investment Research upgraded shares of Golden Entertainment from a “hold” rating to a “strong-buy” rating and set a $57.00 target price for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Golden Entertainment from $56.00 to $60.00 and gave the company a “buy” rating in a report on Friday, October 8th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to, Golden Entertainment currently has a consensus rating of “Buy” and an average price target of $48.20.

In other Golden Entertainment news, SVP Blake L. Sartini II sold 11,632 shares of Golden Entertainment stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $51.38, for a total value of $597,652.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen Arcana sold 18,754 shares of the firm’s stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $52.91, for a total transaction of $992,274.14. Following the sale, the chief operating officer now directly owns 260,944 shares of the company’s stock, valued at approximately $13,806,547.04. The disclosure for this sale can be found here. Insiders have sold 54,580 shares of company stock valued at $2,863,363 in the last three months. Insiders own 41.10% of the company’s stock.

Several large investors have recently made changes to their positions in GDEN. Bank of New York Mellon Corp boosted its position in shares of Golden Entertainment by 18.5% during the first quarter. Bank of New York Mellon Corp now owns 73,727 shares of the company’s stock valued at $1,862,000 after buying an additional 11,493 shares during the last quarter. EAM Global Investors LLC bought a new position in Golden Entertainment during the 2nd quarter valued at about $2,552,000. Principal Financial Group Inc. boosted its holdings in shares of Golden Entertainment by 12.5% during the 1st quarter. Principal Financial Group Inc. now owns 504,555 shares of the company’s stock valued at $12,745,000 after acquiring an additional 55,872 shares during the last quarter. Nicholas Investment Partners LP bought a new stake in shares of Golden Entertainment in the first quarter worth approximately $1,209,000. Finally, RK Capital Management LLC purchased a new position in shares of Golden Entertainment during the second quarter valued at approximately $7,500,000. 55.59% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:GDEN traded up $0.71 during midday trading on Friday, reaching $51.30. 925 shares of the stock traded hands, compared to its average volume of 196,172. The company has a fifty day moving average of $47.91 and a 200 day moving average of $42.45. Golden Entertainment has a 12 month low of $12.30 and a 12 month high of $54.86. The company has a debt-to-equity ratio of 3.91, a quick ratio of 1.94 and a current ratio of 1.98. The stock has a market capitalization of $1.48 billion, a P/E ratio of 18.74 and a beta of 2.90.

About Golden Entertainment

Golden Entertainment, Inc engages in the development, finance, management, and ownership of casino properties. It operates through the Distributed Gaming and Casinos segments. The Distributed Gaming segment involves in the installation, maintenance, and operation of slots and amusement devices in non-casino locations such as grocery stores, convenience stores, liquor stores, restaurants, bars, and taverns; and the operation of wholly-owned branded taverns targeting local patrons.

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