Jefferies Group Brokers Lower Earnings Estimates for Golden Entertainment Inc (GDEN)

Golden Entertainment Inc (NASDAQ:GDEN) – Jefferies Group dropped their Q1 2018 earnings estimates for Golden Entertainment in a report released on Friday. Jefferies Group analyst D. Katz now anticipates that the company will post earnings per share of $0.29 for the quarter, down from their prior estimate of $0.31. Jefferies Group currently has a “Buy” rating and a $38.00 price objective on the stock. Jefferies Group also issued estimates for Golden Entertainment’s Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.45 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.45 EPS and FY2019 earnings at $2.05 EPS.

GDEN has been the topic of a number of other reports. BidaskClub downgraded Golden Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 3rd. TheStreet downgraded Golden Entertainment from a “b” rating to a “c+” rating in a research note on Thursday, March 15th. Finally, Telsey Advisory Group started coverage on Golden Entertainment in a research note on Tuesday, March 13th. They issued an “outperform” rating and a $32.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.00.

Golden Entertainment stock opened at $26.45 on Monday. Golden Entertainment has a 52 week low of $12.77 and a 52 week high of $34.75. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.52 and a current ratio of 1.59. The firm has a market capitalization of $778.63, a P/E ratio of 203.46 and a beta of 0.33.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Golden Entertainment by 19.5% in the second quarter. Vanguard Group Inc. now owns 394,913 shares of the company’s stock worth $8,179,000 after purchasing an additional 64,501 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Golden Entertainment during the fourth quarter valued at approximately $168,000. Arrowstreet Capital Limited Partnership increased its position in shares of Golden Entertainment by 3.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 169,406 shares of the company’s stock valued at $5,531,000 after acquiring an additional 6,204 shares during the last quarter. Northern Trust Corp increased its position in shares of Golden Entertainment by 6.6% during the second quarter. Northern Trust Corp now owns 125,019 shares of the company’s stock valued at $2,589,000 after acquiring an additional 7,709 shares during the last quarter. Finally, Perkins Capital Management Inc. purchased a new stake in shares of Golden Entertainment during the fourth quarter valued at approximately $257,000. 40.57% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Lyle Berman sold 750,000 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $19,980,000.00. Following the completion of the sale, the director now directly owns 1,642,841 shares of the company’s stock, valued at $43,765,284.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,046,494 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $26.64, for a total value of $107,798,600.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,750,000 shares of company stock valued at $153,180,000. Company insiders own 52.00% of the company’s stock.

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Golden Entertainment Company Profile

Golden Entertainment, Inc is a group of gaming companies. The Company focuses on distributed gaming, including tavern gaming, and casino and resort operations. It operates through two segments: Distributed Gaming and Casinos. Its Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area.

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

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