Zacks: Brokerages Expect Golden Entertainment Inc (NASDAQ:GDEN) Will Announce Earnings of -$0.88 Per Share

Wall Street brokerages expect Golden Entertainment Inc (NASDAQ:GDEN) to announce earnings per share of ($0.88) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Golden Entertainment’s earnings, with the highest EPS estimate coming in at ($0.77) and the lowest estimate coming in at ($1.01). Golden Entertainment posted earnings per share of ($0.34) in the same quarter last year, which indicates a negative year-over-year growth rate of 158.8%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 5th.

According to Zacks, analysts expect that Golden Entertainment will report full-year earnings of ($5.68) per share for the current fiscal year. For the next financial year, analysts expect that the business will post earnings of ($1.29) per share, with EPS estimates ranging from ($1.45) to ($1.07). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Golden Entertainment.

Golden Entertainment (NASDAQ:GDEN) last released its earnings results on Thursday, August 6th. The company reported ($2.20) EPS for the quarter, missing analysts’ consensus estimates of ($1.90) by ($0.30). Golden Entertainment had a negative return on equity of 39.72% and a negative net margin of 16.69%. The company had revenue of $75.97 million during the quarter, compared to analysts’ expectations of $53.18 million.

GDEN has been the topic of a number of recent research reports. ValuEngine raised Golden Entertainment from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 15th. BidaskClub raised Golden Entertainment from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 23rd. Finally, Zacks Investment Research downgraded Golden Entertainment from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $15.50.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC raised its stake in shares of Golden Entertainment by 1.7% in the second quarter. Nuveen Asset Management LLC now owns 78,262 shares of the company’s stock worth $698,000 after buying an additional 1,298 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Golden Entertainment by 2,695.5% during the first quarter. Tower Research Capital LLC TRC now owns 5,619 shares of the company’s stock worth $37,000 after purchasing an additional 5,418 shares in the last quarter. Deutsche Bank AG grew its position in shares of Golden Entertainment by 36.6% during the first quarter. Deutsche Bank AG now owns 22,631 shares of the company’s stock worth $149,000 after purchasing an additional 6,067 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Golden Entertainment by 19.4% during the second quarter. California Public Employees Retirement System now owns 38,324 shares of the company’s stock worth $342,000 after purchasing an additional 6,217 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Golden Entertainment by 6.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 118,555 shares of the company’s stock worth $1,058,000 after purchasing an additional 7,362 shares in the last quarter. 47.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:GDEN traded down $0.59 during midday trading on Tuesday, reaching $13.63. 10,720 shares of the company’s stock traded hands, compared to its average volume of 323,555. The company has a market cap of $398.89 million, a price-to-earnings ratio of -2.91 and a beta of 2.56. The company has a debt-to-equity ratio of 7.19, a quick ratio of 0.94 and a current ratio of 0.99. Golden Entertainment has a one year low of $3.55 and a one year high of $21.67. The stock has a 50 day moving average of $12.75 and a 200 day moving average of $9.82.

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

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