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

Golden Entertainment, Inc. (NASDAQ:GDEN) announced a quarterly dividend on Tuesday, February 25th, 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 3.68%. The ex-dividend date 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 decline. 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 Trading Down 0.3 %

Shares of Golden Entertainment stock opened at $27.18 on Wednesday. The stock has a 50 day moving average of $31.44 and a 200 day moving average of $31.66. 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 firm has a market capitalization of $720.57 million, a price-to-earnings ratio of 21.92 and a beta of 2.29. Golden Entertainment has a fifty-two week low of $25.17 and a fifty-two week high of $36.92.

Insider Activity

In other news, Director Terrence Wright sold 16,586 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.26, for a total transaction of $518,478.36. Following the sale, the director now owns 61,616 shares of the company’s stock, valued at approximately $1,926,116.16. This represents a 21.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GDEN shares. JMP Securities reissued a “market outperform” rating and set a $36.00 price objective on shares of Golden Entertainment in a research report on Thursday, January 16th. Macquarie reiterated an “outperform” rating and set a $40.00 price target on shares of Golden Entertainment in a research report on Friday, February 28th. Jefferies Financial Group upped their price objective 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 started coverage on shares of Golden Entertainment in a report on Monday, December 16th. They issued an “overweight” rating and a $38.00 target price for the company. Finally, StockNews.com lowered Golden Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Golden Entertainment presently has an average rating of “Moderate Buy” and a consensus target price 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.