Analysts Set Golden Entertainment, Inc. (NASDAQ:GDEN) Target Price at $32.60

Golden Entertainment, Inc. (NASDAQ:GDEN) has earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $32.60.

A number of research firms have recently weighed in on GDEN. Macquarie cut their target price on Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Citigroup reaffirmed an “outperform” rating on shares of Golden Entertainment in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Golden Entertainment in a research note on Tuesday. Citizens Jmp lowered shares of Golden Entertainment from a “market outperform” rating to a “hold” rating in a report on Friday, November 7th. Finally, Zacks Research cut shares of Golden Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th.

Golden Entertainment Stock Performance

NASDAQ GDEN opened at $30.01 on Thursday. The firm has a 50-day moving average price of $24.80 and a two-hundred day moving average price of $26.58. Golden Entertainment has a 12-month low of $19.57 and a 12-month high of $35.49. The company has a market capitalization of $785.35 million, a P/E ratio of 55.57 and a beta of 1.67. The company has a quick ratio of 1.03, a current ratio of 1.12 and a debt-to-equity ratio of 0.95.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). The business had revenue of $154.82 million during the quarter, compared to analyst estimates of $157.21 million. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. Analysts anticipate that Golden Entertainment will post 0.2 earnings per share for the current year.

Golden Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 22nd. This represents a $1.00 annualized dividend and a yield of 3.3%. Golden Entertainment’s dividend payout ratio is presently 555.56%.

Hedge Funds Weigh In On Golden Entertainment

A number of institutional investors have recently modified their holdings of GDEN. DAVENPORT & Co LLC boosted its stake in Golden Entertainment by 2.5% in the third quarter. DAVENPORT & Co LLC now owns 1,521,937 shares of the company’s stock valued at $35,692,000 after buying an additional 37,055 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Golden Entertainment by 3.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 901,138 shares of the company’s stock valued at $21,249,000 after purchasing an additional 32,992 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Golden Entertainment by 2.9% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 839,494 shares of the company’s stock valued at $19,795,000 after purchasing an additional 23,476 shares during the last quarter. Penn Capital Management Company LLC increased its position in Golden Entertainment by 29.3% during the 1st quarter. Penn Capital Management Company LLC now owns 674,024 shares of the company’s stock worth $17,827,000 after purchasing an additional 152,805 shares in the last quarter. Finally, Hill Path Capital LP increased its position in Golden Entertainment by 477.8% during the 2nd quarter. Hill Path Capital LP now owns 655,625 shares of the company’s stock worth $19,295,000 after purchasing an additional 542,150 shares in the last quarter. Institutional investors and hedge funds own 70.73% of the company’s stock.

About Golden Entertainment

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.