Brokerages Set Golden Entertainment, Inc. (NASDAQ:GDEN) Target Price at $39.40

Golden Entertainment, Inc. (NASDAQ:GDEN) has been assigned an average rating of “Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $39.40.

Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Macquarie cut their price target on Golden Entertainment from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. JMP Securities decreased their price target on Golden Entertainment from $39.00 to $36.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Finally, Truist Financial dropped their price objective on Golden Entertainment from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Hedge Funds Weigh In On Golden Entertainment

A number of large investors have recently made changes to their positions in GDEN. Innealta Capital LLC purchased a new position in Golden Entertainment during the 2nd quarter worth approximately $34,000. nVerses Capital LLC acquired a new stake in shares of Golden Entertainment in the second quarter worth $37,000. Quarry LP purchased a new position in shares of Golden Entertainment during the second quarter worth $52,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Golden Entertainment during the second quarter worth $54,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Golden Entertainment during the second quarter valued at $89,000. 70.73% of the stock is owned by institutional investors and hedge funds.

Golden Entertainment Stock Down 1.0 %

GDEN stock opened at $32.04 on Tuesday. The stock has a market capitalization of $927.53 million, a P/E ratio of 3.46 and a beta of 2.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.77 and a quick ratio of 0.73. Golden Entertainment has a 1-year low of $27.42 and a 1-year high of $42.14. The business has a fifty day moving average price of $30.50 and a 200-day moving average price of $31.95.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The firm had revenue of $167.33 million during the quarter, compared to analysts’ expectations of $176.34 million. Golden Entertainment had a negative return on equity of 0.33% and a net margin of 33.07%. Equities analysts forecast that Golden Entertainment will post 0.25 earnings per share for the current fiscal year.

Golden Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, September 17th. Golden Entertainment’s payout ratio is 10.79%.

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.