Brokerages forecast that Golden Entertainment Inc (NASDAQ:GDEN) will report $239.16 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Golden Entertainment’s earnings, with the highest sales estimate coming in at $242.22 million and the lowest estimate coming in at $237.27 million. Golden Entertainment posted sales of $210.13 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.8%. The business is expected to issue its next earnings results on Thursday, March 12th.
On average, analysts expect that Golden Entertainment will report full year sales of $970.41 million for the current fiscal year, with estimates ranging from $968.54 million to $973.50 million. For the next year, analysts forecast that the business will report sales of $996.47 million, with estimates ranging from $983.00 million to $1.01 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Golden Entertainment.
Golden Entertainment (NASDAQ:GDEN) last issued its earnings results on Thursday, November 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.18). Golden Entertainment had a negative net margin of 6.07% and a negative return on equity of 11.16%. The company had revenue of $243.31 million during the quarter, compared to analyst estimates of $241.69 million.
In other news, Director Anthony A. Marnell III bought 64,095 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $16.85 per share, with a total value of $1,080,000.75. Following the completion of the purchase, the director now directly owns 102,774 shares of the company’s stock, valued at $1,731,741.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 36.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley raised its stake in Golden Entertainment by 10.0% during the second quarter. Morgan Stanley now owns 12,033 shares of the company’s stock worth $168,000 after buying an additional 1,098 shares during the last quarter. Bank of Montreal Can raised its stake in Golden Entertainment by 4,096.7% during the second quarter. Bank of Montreal Can now owns 15,234 shares of the company’s stock worth $213,000 after buying an additional 14,871 shares during the last quarter. Algert Global LLC bought a new position in Golden Entertainment during the second quarter worth $232,000. Parametric Portfolio Associates LLC bought a new position in Golden Entertainment during the second quarter worth $247,000. Finally, Rhumbline Advisers raised its stake in Golden Entertainment by 4.2% during the third quarter. Rhumbline Advisers now owns 25,991 shares of the company’s stock worth $345,000 after buying an additional 1,044 shares during the last quarter. 51.85% of the stock is owned by institutional investors and hedge funds.
Golden Entertainment stock traded up $0.31 during mid-day trading on Monday, reaching $18.17. The company had a trading volume of 149,998 shares, compared to its average volume of 145,978. Golden Entertainment has a fifty-two week low of $12.32 and a fifty-two week high of $20.42. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 4.28. The company has a market cap of $505.16 million, a P/E ratio of -34.28 and a beta of 1.40. The business has a fifty day simple moving average of $16.32 and a 200 day simple moving average of $14.38.
About Golden Entertainment
Golden Entertainment, Inc engages in the development, finance, management, and ownership of casino properties. It operates through the Distributed Gaming and Casinos segments. The Distributed Gaming segment involves in the installation, maintenance, and operation of slots and amusement devices in non-casino locations such as grocery stores, convenience stores, liquor stores, restaurants, bars, and taverns; and the operation of wholly-owned branded taverns targeting local patrons.
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