Golden Entertainment, Inc. (NASDAQ:GDEN) Forecasted to Post FY2024 Earnings of $0.45 Per Share

Golden Entertainment, Inc. (NASDAQ:GDEN) – Stock analysts at B. Riley cut their FY2024 earnings estimates for Golden Entertainment in a research note issued to investors on Monday, August 5th. B. Riley analyst D. Bain now anticipates that the company will post earnings of $0.45 per share for the year, down from their prior estimate of $0.48. B. Riley has a “Buy” rating and a $46.00 price target on the stock. The consensus estimate for Golden Entertainment’s current full-year earnings is $0.50 per share. B. Riley also issued estimates for Golden Entertainment’s Q4 2024 earnings at $0.34 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.45 EPS, Q4 2025 earnings at $0.41 EPS and FY2025 earnings at $1.50 EPS.

Several other analysts have also commented on the stock. Truist Financial lowered their price target on shares of Golden Entertainment from $43.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. StockNews.com cut Golden Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price target on Golden Entertainment from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, JMP Securities cut their price target on Golden Entertainment from $42.00 to $39.00 and set a “market outperform” rating for the company in a report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Golden Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $40.25.

Golden Entertainment Stock Up 1.6 %

Shares of NASDAQ GDEN opened at $28.12 on Wednesday. The firm’s 50-day moving average is $30.17 and its two-hundred day moving average is $33.10. The company has a market capitalization of $814.05 million, a PE ratio of 3.03 and a beta of 2.23. Golden Entertainment has a 12-month low of $27.54 and a 12-month high of $42.14. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.36 and a quick ratio of 2.33.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.50). Golden Entertainment had a return on equity of 1.13% and a net margin of 30.14%. The company had revenue of $174.05 million for the quarter, compared to analysts’ expectations of $168.72 million.

Hedge Funds Weigh In On Golden Entertainment

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of Golden Entertainment in the second quarter valued at $34,000. nVerses Capital LLC purchased a new stake in shares of Golden Entertainment in the second quarter valued at $37,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Golden Entertainment in the second quarter valued at $54,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Golden Entertainment in the second quarter valued at $89,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Golden Entertainment in the first quarter valued at $214,000. 70.73% of the stock is owned by institutional investors and hedge funds.

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.