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Why Golden Entertainment (GDEN) Could Be Positioned for a Surge

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Golden Entertainment, Inc. (GDEN - Free Report) is a diverse gaming company in the United Statesthat could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on GDEN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Golden Entertainment could be a solid choice for investors.

Current Quarter Estimates for GDEN

In the past 30 days, one estimate has gone higher for Golden Entertainment while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 23 cents a share 30 days ago, to a loss of 21 cents today, a move of 8.7%.

Current Year Estimates for GDEN

Meanwhile, Golden Entertainment’s current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 28 cents per share 30 days ago to a loss of 15 cents per share today, an increase of 46.4%.

Bottom Line

The stock has also started to move higher lately, adding 39.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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