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

Golden Entertainment, Inc. (NASDAQ:GDEN) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders 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 annualized dividend and a dividend 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Price Performance

Shares of Golden Entertainment stock traded up $1.43 during midday trading on Friday, reaching $32.21. The company had a trading volume of 326,567 shares, compared to its average volume of 150,185. Golden Entertainment has a 1-year low of $27.42 and a 1-year high of $42.14. The company has a market capitalization of $912.19 million, a price-to-earnings ratio of 3.62 and a beta of 2.24. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $31.02 and a 200 day simple moving average of $30.68.

Golden Entertainment (NASDAQ:GDEN) last announced its quarterly earnings data 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). Golden Entertainment had a net margin of 33.07% and a negative return on equity of 0.33%. The business had revenue of $167.33 million during the quarter, compared to the consensus estimate of $176.34 million. As a group, equities research analysts forecast that Golden Entertainment will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

GDEN has been the topic of a number of recent research reports. JMP Securities reduced their price objective on shares of Golden Entertainment from $36.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Monday, October 14th. StockNews.com cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Macquarie reduced their price target on shares of Golden Entertainment from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday. Truist Financial cut their price objective on shares of Golden Entertainment from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, B. Riley lowered their price target on shares of Golden Entertainment from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Insider Buying and Selling at Golden Entertainment

In related news, Director Mark A. Lipparelli sold 773 shares of Golden Entertainment stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $33.32, for a total transaction of $25,756.36. Following the completion of the sale, the director now owns 82,740 shares of the company’s stock, valued at approximately $2,756,896.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 29.10% of the company’s stock.

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.