Casino, tavern, and slot machine operator Golden Entertainment (NASDAQ:GDEN) will be announcing earnings results this Thursday after the bell. Here’s what to expect.
Golden Entertainment missed analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $160.8 million, down 7.6% 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 be flat year on year at $167.6 million, improving from the 41.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.21 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 3 downward revisions over the last 30 days (we track 7 analysts). 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 Q2 results, giving us a hint as to what we can expect. Red Rock Resorts delivered year-on-year revenue growth of 8.2%, beating analysts’ expectations by 8.4%, and Monarch reported revenues up 6.8%, topping estimates by 5.4%. Red Rock Resorts traded up 9.2% following the results while Monarch was also up 20.4%.
Read our full analysis of Red Rock Resorts’s results here and Monarch’s results here.
Investors in the casino operator segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Golden Entertainment is down 9.9% during the same time and is heading into earnings with an average analyst price target of $34.71 (compared to the current share price of $27.30).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.