After Forming Bearish Double Bottom, Is Golden Entertainment, Inc. (GDEN)’s Near-Term Analysis Negative?

October 2, 2018 - By Clifton Ray

Golden Entertainment, Inc. (NASDAQ:GDEN) Logo

The chart of Golden Entertainment, Inc. (GDEN) shows a double bottom with $22.76 target or 8.00 % below today’s $24.74 share price. The 6 months chart pattern indicates high risk for the $680.65 million company. It was reported on Oct, 2 by Finviz.com. If the $22.76 price target is reached, the company will be worth $54.45M less. Double bottoms are rare but powerful chart patterns.

The stock increased 3.04% or $0.73 during the last trading session, reaching $24.74. About 448,082 shares traded or 14.27% up from the average. Golden Entertainment, Inc. (NASDAQ:GDEN) has risen 14.18% since October 2, 2017 and is uptrending. It has underperformed by 1.44% the S&P500.

Analysts await Golden Entertainment, Inc. (NASDAQ:GDEN) to report earnings on November, 14. They expect $0.30 earnings per share, down 16.67 % or $0.06 from last year’s $0.36 per share. GDEN’s profit will be $8.25M for 20.62 P/E if the $0.30 EPS becomes a reality. After $0.12 actual earnings per share reported by Golden Entertainment, Inc. for the previous quarter, Wall Street now forecasts 150.00 % EPS growth.

More news for Golden Entertainment, Inc. (NASDAQ:GDEN) were recently published by: Seekingalpha.com, which released: “Tesla’s Stock Is A Battleground – Cramer’s Lightning Round (9/25/18)” on September 26, 2018. Benzinga.com‘s article titled: “56 Biggest Movers From Yesterday” and published on September 21, 2018 is yet another important article.

Golden Entertainment, Inc., together with its subsidiaries, focuses on distributed gaming, and resort casino activities in the United States. The company has market cap of $680.65 million. The Distributed Gaming segment is involved in the installation, maintenance, and operation of slots and amusement devices in non-casino locations, such as grocery stores, convenience stores, restaurants, bars, taverns, and liquor stores; and operation of branded taverns targeting local patrons primarily in the greater Las Vegas, Nevada metropolitan area. It has a 281.14 P/E ratio. The Casinos segment owns and operates 8 resort casino properties, including The Stratosphere that offers 2,430 hotel rooms, 748 slots, 42 table games, a race and sports book, 15 restaurants, 2 rooftop pools, a fitness center, and retail shops and entertainment facilities; Arizona Charlie's Decatur with 260 hotel rooms, 1,037 slots, 7 table games, race and sports books, 6 restaurants, and a 300 seat bingo parlor; and Arizona Charlie's Boulder with 300 hotel rooms, 839 slots, 7 table games, race and sports books, 4 restaurants, and a 450-seat bingo parlor, as well as recreational vehicle park with 220 RV hook-up sites in Las Vegas, Nevada.

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