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

Golden Entertainment, Inc. (NASDAQ:GDEN) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders 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 dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, March 21st.

Golden Entertainment has a payout ratio of 89.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Performance

Shares of GDEN stock opened at $31.09 on Friday. The company has a market capitalization of $852.77 million, a price-to-earnings ratio of 25.07 and a beta of 2.21. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.03 and a current ratio of 1.11. The company has a 50-day simple moving average of $32.24 and a 200 day simple moving average of $31.89. Golden Entertainment has a 52 week low of $27.42 and a 52 week high of $37.30.

Insider Buying and Selling at Golden Entertainment

In other Golden Entertainment news, Director Terrence Wright sold 16,586 shares of the business’s stock in a transaction dated 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 sale, the director now owns 61,616 shares of the company’s stock, valued at $1,926,116.16. The trade was a 21.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 29.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GDEN. JMP Securities reaffirmed a “market outperform” rating and set a $36.00 target price on shares of Golden Entertainment in a report on Thursday, January 16th. Jefferies Financial Group lifted their target price on shares of Golden Entertainment from $31.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company began coverage on shares of Golden Entertainment in a report on Monday, December 16th. They set an “overweight” rating and a $38.00 target price for the company. 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 issued a $40.00 price objective on shares of Golden Entertainment in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Golden Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $36.86.

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.