Golden Entertainment, Inc. (NASDAQ:GDEN) Expected to Announce Quarterly Sales of $217.96 Million


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Wall Street analysts expect that Golden Entertainment, Inc. (NASDAQ:GDEN) will report sales of $217.96 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Golden Entertainment’s earnings, with the lowest sales estimate coming in at $215.04 million and the highest estimate coming in at $222.14 million. Golden Entertainment reported sales of $207.16 million during the same quarter last year, which indicates a positive year over year growth rate of 5.2%. The firm is scheduled to issue its next earnings results on Thursday, May 6th.

According to Zacks, analysts expect that Golden Entertainment will report full-year sales of $927.58 million for the current fiscal year, with estimates ranging from $903.50 million to $965.94 million. For the next fiscal year, analysts anticipate that the business will report sales of $969.60 million, with estimates ranging from $948.90 million to $1.01 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Golden Entertainment.

Golden Entertainment (NASDAQ:GDEN) last posted its earnings results on Wednesday, March 10th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.31). Golden Entertainment had a negative return on equity of 43.76% and a negative net margin of 17.22%.

GDEN has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Golden Entertainment from $20.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 12th. Zacks Investment Research upgraded Golden Entertainment from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, March 24th.

Golden Entertainment stock traded up $0.28 during mid-day trading on Monday, reaching $28.23. 1,133 shares of the company were exchanged, compared to its average volume of 157,084. Golden Entertainment has a 12-month low of $6.02 and a 12-month high of $30.89. The business has a fifty day moving average of $25.45 and a 200 day moving average of $19.11. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.04 and a current ratio of 1.09. The firm has a market cap of $794.93 million, a P/E ratio of -6.26 and a beta of 2.66.

In related news, Director Lyle Berman sold 200,000 shares of the company’s stock in a transaction on Wednesday, March 24th. The stock was sold at an average price of $24.96, for a total value of $4,992,000.00. Following the transaction, the director now directly owns 810,643 shares of the company’s stock, valued at approximately $20,233,649.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 36.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDEN. Bessemer Group Inc. acquired a new position in shares of Golden Entertainment in the 4th quarter valued at $30,000. US Bancorp DE grew its position in Golden Entertainment by 26.0% during the 4th quarter. US Bancorp DE now owns 2,594 shares of the company’s stock worth $52,000 after purchasing an additional 535 shares during the period. Citigroup Inc. grew its position in Golden Entertainment by 115.8% during the 4th quarter. Citigroup Inc. now owns 4,776 shares of the company’s stock worth $95,000 after purchasing an additional 2,563 shares during the period. Squarepoint Ops LLC acquired a new stake in Golden Entertainment during the 4th quarter worth about $242,000. Finally, AQR Capital Management LLC acquired a new stake in Golden Entertainment during the 3rd quarter worth about $379,000. 48.76% of the stock is currently owned by hedge funds and other institutional investors.

Golden Entertainment Company Profile

Golden Entertainment, Inc, together with its subsidiaries, owns and operates a diversified entertainment platform in the United States. The company operates through two segments, Casinos and Distributed Gaming. The Casinos segment owns and operates ten resort casino properties in Nevada and Maryland.

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