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

Golden Entertainment, Inc. (NASDAQ:GDEN - Get Free Report) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.25 per share on Wednesday, April 2nd. This represents a $1.00 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, March 21st.

Golden Entertainment has a payout ratio of 98.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities research analysts expect Golden Entertainment to earn $0.84 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 119.0%.

Golden Entertainment Stock Down 2.7 %

Shares of GDEN traded down $0.83 during mid-day trading on Tuesday, hitting $30.01. The company's stock had a trading volume of 247,217 shares, compared to its average volume of 178,174. The company's 50-day moving average is $32.21 and its 200-day moving average is $31.93. Golden Entertainment has a 52-week low of $27.42 and a 52-week high of $36.92. The firm has a market capitalization of $823.14 million, a price-to-earnings ratio of 24.20 and a beta of 2.21. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75.

Analysts Set New Price Targets

GDEN has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Golden Entertainment from $31.00 to $32.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. JMP Securities reiterated a "market outperform" rating and issued a $36.00 price objective on shares of Golden Entertainment in a research note on Thursday, January 16th. Wells Fargo & Company started coverage on shares of Golden Entertainment in a research note on Monday, December 16th. They issued an "overweight" rating and a $38.00 price objective on the stock. StockNews.com downgraded shares of Golden Entertainment from a "buy" rating to a "hold" rating in a report on Friday. Finally, Macquarie reissued an "outperform" rating and set a $40.00 price target on shares of Golden Entertainment in a report on Friday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $36.86.

Remove Ads

Insider Activity

In related news, Director Terrence Wright sold 16,586 shares of Golden Entertainment stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $31.26, for a total value of $518,478.36. Following the completion of the transaction, the director now owns 61,616 shares in the company, valued at $1,926,116.16. The trade was a 21.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 29.10% of the company's stock.

About Golden Entertainment

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.