Analysts forecast that Churchill Downs, Inc. (NASDAQ:CHDN) will report $7.29 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Churchill Downs’ earnings, with the lowest EPS estimate coming in at $7.05 and the highest estimate coming in at $7.53. Churchill Downs posted earnings of $4.81 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 51.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, July 25th.
On average, analysts expect that Churchill Downs will report full year earnings of $10.70 per share for the current year. For the next fiscal year, analysts forecast that the firm will post earnings of $13.01 per share, with EPS estimates ranging from $12.40 to $13.61. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Churchill Downs.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 25th. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.15. Churchill Downs had a return on equity of 20.96% and a net margin of 27.77%. The firm had revenue of $189.30 million during the quarter, compared to analyst estimates of $177.80 million. During the same period last year, the company posted $0.44 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis.
A number of analysts recently commented on the company. BidaskClub lowered Churchill Downs from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 2nd. Telsey Advisory Group boosted their target price on Churchill Downs from $265.00 to $290.00 and gave the company a “market perform” rating in a research report on Monday, May 7th. ValuEngine raised Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, April 27th. Finally, Zacks Investment Research lowered Churchill Downs from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $260.50.
In related news, Director Richard L. Duchossois purchased 2,080 shares of the business’s stock in a transaction on Tuesday, April 3rd. The stock was acquired at an average price of $240.65 per share, for a total transaction of $500,552.00. Following the purchase, the director now owns 16,290 shares of the company’s stock, valued at $3,920,188.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard L. Duchossois purchased 2,050 shares of the business’s stock in a transaction on Wednesday, March 28th. The shares were bought at an average price of $244.39 per share, with a total value of $500,999.50. Following the purchase, the director now directly owns 16,290 shares in the company, valued at approximately $3,981,113.10. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,145 shares of company stock valued at $1,501,433 in the last quarter. Company insiders own 13.78% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CHDN. BlackRock Inc. raised its holdings in Churchill Downs by 1.7% during the 4th quarter. BlackRock Inc. now owns 1,364,375 shares of the company’s stock valued at $317,491,000 after acquiring an additional 23,081 shares during the period. Deutsche Bank AG grew its position in Churchill Downs by 209.6% in the fourth quarter. Deutsche Bank AG now owns 42,918 shares of the company’s stock worth $9,986,000 after acquiring an additional 29,057 shares in the last quarter. Teacher Retirement System of Texas grew its position in Churchill Downs by 278.3% in the fourth quarter. Teacher Retirement System of Texas now owns 4,384 shares of the company’s stock worth $1,020,000 after acquiring an additional 3,225 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in Churchill Downs in the fourth quarter worth $3,323,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Churchill Downs by 324.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 140,798 shares of the company’s stock worth $32,764,000 after acquiring an additional 107,645 shares in the last quarter. Institutional investors and hedge funds own 70.97% of the company’s stock.
Churchill Downs traded up $1.65, reaching $301.05, during midday trading on Tuesday, MarketBeat reports. The stock had a trading volume of 194,733 shares, compared to its average volume of 76,560. Churchill Downs has a 12 month low of $178.85 and a 12 month high of $314.60. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 51.20 and a beta of 1.02. The company has a debt-to-equity ratio of 2.57, a current ratio of 1.02 and a quick ratio of 1.02.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.