Jefferies Financial Group Weighs in on Golden Entertainment Inc’s Q3 2018 Earnings (GDEN)

Golden Entertainment Inc (NASDAQ:GDEN) – Stock analysts at Jefferies Financial Group lowered their Q3 2018 earnings estimates for Golden Entertainment in a report issued on Monday, September 24th. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings per share of $0.18 for the quarter, down from their prior forecast of $0.30. Jefferies Financial Group currently has a “Buy” rating and a $39.00 target price on the stock. Jefferies Financial Group also issued estimates for Golden Entertainment’s Q1 2019 earnings at $0.37 EPS, Q2 2019 earnings at $0.51 EPS, Q3 2019 earnings at $0.42 EPS, Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $1.78 EPS.

Golden Entertainment (NASDAQ:GDEN) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.11). Golden Entertainment had a return on equity of 1.89% and a net margin of 0.36%. The company had revenue of $216.54 million during the quarter, compared to analysts’ expectations of $223.40 million.

A number of other equities analysts have also recently commented on the stock. BidaskClub cut shares of Golden Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. ValuEngine cut shares of Golden Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. TheStreet cut shares of Golden Entertainment from a “b” rating to a “c” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research cut shares of Golden Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $36.67.

GDEN stock opened at $23.70 on Thursday. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.38 and a quick ratio of 2.29. Golden Entertainment has a one year low of $22.25 and a one year high of $34.75. The company has a market capitalization of $643.78 million, a price-to-earnings ratio of 66.90, a P/E/G ratio of 3.04 and a beta of 0.50.

In other news, COO Stephen A. Arcana sold 11,350 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $29.03, for a total value of $329,490.50. Following the completion of the sale, the chief operating officer now owns 68,434 shares of the company’s stock, valued at approximately $1,986,639.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lyle Berman sold 141,685 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $24.50, for a total transaction of $3,471,282.50. Following the completion of the sale, the director now directly owns 898,293 shares of the company’s stock, valued at approximately $22,008,178.50. The disclosure for this sale can be found here. In the last three months, insiders sold 210,024 shares of company stock valued at $5,390,719. Corporate insiders own 33.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL boosted its stake in shares of Golden Entertainment by 10.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 188,400 shares of the company’s stock valued at $5,085,000 after purchasing an additional 17,742 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Golden Entertainment in the 2nd quarter valued at $108,000. Principal Financial Group Inc. purchased a new stake in shares of Golden Entertainment in the 1st quarter valued at $9,617,000. Eagle Asset Management Inc. boosted its stake in shares of Golden Entertainment by 7.4% in the 2nd quarter. Eagle Asset Management Inc. now owns 52,224 shares of the company’s stock valued at $1,409,000 after purchasing an additional 3,587 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its stake in shares of Golden Entertainment by 24.1% in the 2nd quarter. Federated Investors Inc. PA now owns 180,000 shares of the company’s stock valued at $4,858,000 after purchasing an additional 35,000 shares in the last quarter. 63.44% of the stock is owned by institutional investors.

Golden Entertainment Company Profile

Golden Entertainment, Inc, together with its subsidiaries, focuses on distributed gaming, and resort casino operations in the United States. The Distributed Gaming segment is involved in the installation, maintenance, and operation of slots and amusement devices in non-casino locations, such as grocery stores, convenience stores, restaurants, bars, taverns, and liquor stores; and operation of branded taverns targeting local patrons primarily in the greater Las Vegas, Nevada metropolitan area.

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Earnings History and Estimates for Golden Entertainment (NASDAQ:GDEN)

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