Golden Entertainment (NASDAQ:GDEN) Price Target Lowered to $34.00 at JMP Securities

Golden Entertainment (NASDAQ:GDEN) had its price objective decreased by JMP Securities from $35.00 to $34.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. JMP Securities currently has a market outperform rating on the stock.

Other research analysts have also issued research reports about the company. Citigroup reaffirmed an “outperform” rating on shares of Golden Entertainment in a research report on Friday, July 18th. Truist Financial cut Golden Entertainment from a “buy” rating to a “hold” rating and cut their target price for the stock from $36.00 to $34.00 in a research note on Wednesday, July 16th. Wells Fargo & Company reduced their price target on Golden Entertainment from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Tuesday, August 12th. Finally, Macquarie dropped their price target on shares of Golden Entertainment from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.17.

Golden Entertainment Stock Up 1.6%

NASDAQ:GDEN opened at $24.63 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.12 and a quick ratio of 1.03. The firm’s 50-day moving average price is $26.45 and its 200-day moving average price is $27.22. The company has a market capitalization of $644.32 million, a PE ratio of 45.61 and a beta of 1.65. Golden Entertainment has a 1-year low of $22.66 and a 1-year high of $35.49.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. Golden Entertainment had a net margin of 2.35% and a return on equity of 3.23%. The business had revenue of $163.62 million for the quarter, compared to analysts’ expectations of $169.70 million. On average, equities analysts predict that Golden Entertainment will post 0.2 EPS for the current fiscal year.

Golden Entertainment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Thursday, September 25th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. Golden Entertainment’s dividend payout ratio (DPR) is 185.19%.

Hedge Funds Weigh In On Golden Entertainment

A number of hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Golden Entertainment during the 2nd quarter valued at $27,000. Parallel Advisors LLC bought a new position in Golden Entertainment in the 2nd quarter worth approximately $35,000. Lazard Asset Management LLC grew its holdings in Golden Entertainment by 405.7% during the 4th quarter. Lazard Asset Management LLC now owns 1,871 shares of the company’s stock valued at $59,000 after buying an additional 1,501 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Golden Entertainment by 168.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,680 shares of the company’s stock valued at $79,000 after buying an additional 1,680 shares during the last quarter. Finally, Inscription Capital LLC bought a new stake in shares of Golden Entertainment during the first quarter valued at approximately $165,000. 70.73% of the stock is currently owned by institutional investors.

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.