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

Golden Entertainment, Inc. (NASDAQ:GDEN) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Friday, December 20th will be given a dividend of 0.25 per share on Tuesday, January 7th. This represents a $1.00 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, December 20th.

Golden Entertainment has a dividend payout ratio of 94.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Golden Entertainment to earn $1.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 94.3%.

Golden Entertainment Trading Up 4.6 %

NASDAQ:GDEN traded up $1.43 during midday trading on Friday, reaching $32.21. 326,567 shares of the stock traded hands, compared to its average volume of 150,185. The company has a fifty day moving average of $31.02 and a 200 day moving average of $30.68. Golden Entertainment has a 12 month low of $27.42 and a 12 month high of $42.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.73 and a current ratio of 0.77. The stock has a market capitalization of $912.19 million, a P/E ratio of 3.62 and a beta of 2.24.

Golden Entertainment (NASDAQ:GDEN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. The firm had revenue of $167.33 million for the quarter, compared to the consensus estimate of $176.34 million. On average, research analysts predict that Golden Entertainment will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JMP Securities lowered their price target on shares of Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating for the company in a report on Monday, October 14th. Macquarie decreased their price objective on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial decreased their price objective on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. StockNews.com lowered shares of Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, B. Riley decreased their price objective on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating for the company in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Golden Entertainment has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Transactions at Golden Entertainment

In other news, Director Mark A. Lipparelli sold 773 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $33.32, for a total value of $25,756.36. Following the sale, the director now directly owns 82,740 shares of the company’s stock, valued at $2,756,896.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 29.10% 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.