Golden Entertainment, Inc. (NASDAQ:GDEN) Announces $0.25 Quarterly Dividend

Golden Entertainment, Inc. (NASDAQ:GDEN) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.25 per share on Wednesday, April 2nd. This represents a $1.00 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, March 21st.

Golden Entertainment has a dividend payout ratio of 89.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Golden Entertainment to earn $0.84 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 119.0%.

Golden Entertainment Trading Up 0.8 %

Shares of GDEN opened at $31.09 on Friday. The firm has a market capitalization of $852.77 million, a price-to-earnings ratio of 25.07 and a beta of 2.21. The firm’s 50-day moving average price is $32.24 and its 200-day moving average price is $31.89. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. Golden Entertainment has a 1-year low of $27.42 and a 1-year high of $37.30.

Insider Buying and Selling at Golden Entertainment

In related news, Director Terrence Wright sold 16,586 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $31.26, for a total value of $518,478.36. Following the completion of the sale, the director now owns 61,616 shares in the company, valued at approximately $1,926,116.16. The trade was a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 29.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on GDEN. Wells Fargo & Company assumed coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They issued an “overweight” rating and a $38.00 price objective for the company. Jefferies Financial Group lifted their price target on Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Macquarie restated an “outperform” rating and set a $40.00 price objective on shares of Golden Entertainment in a research report on Friday. JMP Securities reiterated a “market outperform” rating and issued a $36.00 target price on shares of Golden Entertainment in a report on Thursday, January 16th. Finally, StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.86.

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.