Casino, tavern, and slot machine operator Golden Entertainment (NASDAQ:GDEN) will be reporting results tomorrow after market hours. Here’s what investors should know.
Golden Entertainment missed analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $164.2 million, down 28.8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ adjusted operating income estimates.
Is Golden Entertainment a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Golden Entertainment’s revenue to decline 5.6% year on year to $164.2 million, improving from the 37.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Golden Entertainment has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Golden Entertainment’s peers in the casino operator segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Wynn Resorts’s revenues decreased 8.7% year on year, missing analysts’ expectations by 1.8%, and Monarch reported revenues up 3.1%, topping estimates by 2.1%. Monarch traded up 2.2% following the results.
Read our full analysis of Wynn Resorts’s results here and Monarch’s results here.
There has been positive sentiment among investors in the casino operator segment, with share prices up 12.7% on average over the last month. Golden Entertainment is up 2.6% during the same time and is heading into earnings with an average analyst price target of $36 (compared to the current share price of $25.66).
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