Brokerages Anticipate Churchill Downs, Incorporated (CHDN) to Announce $4.47 EPS
Equities analysts expect Churchill Downs, Incorporated (NASDAQ:CHDN) to post earnings of $4.47 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Churchill Downs,’s earnings, with estimates ranging from $4.20 to $4.64. Churchill Downs, posted earnings of $4.11 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 8.8%. The firm is scheduled to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Churchill Downs, will report full-year earnings of $6.50 per share for the current fiscal year, with EPS estimates ranging from $5.90 to $6.71. For the next year, analysts anticipate that the business will report earnings of $7.52 per share, with EPS estimates ranging from $7.25 to $7.81. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Churchill Downs,.
Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 26th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by $0.07. The business had revenue of $279.50 million for the quarter, compared to analyst estimates of $283.23 million. Churchill Downs, had a return on equity of 14.14% and a net margin of 8.66%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share.
CHDN has been the subject of several recent analyst reports. Telsey Advisory Group cut shares of Churchill Downs, from an “outperform” rating to a “market perform” rating and set a $174.00 price objective for the company. in a research report on Friday, April 28th. Zacks Investment Research cut shares of Churchill Downs, from a “hold” rating to a “sell” rating in a research report on Monday, February 27th. Finally, Imperial Capital lifted their price objective on shares of Churchill Downs, from $169.00 to $184.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $171.75.
Shares of Churchill Downs, (NASDAQ:CHDN) traded down 0.44% during trading on Monday, hitting $181.75. The stock had a trading volume of 29,454 shares. Churchill Downs, has a one year low of $118.88 and a one year high of $183.80. The stock’s 50 day moving average price is $170.24 and its 200-day moving average price is $157.13. The stock has a market cap of $2.96 billion, a P/E ratio of 27.04 and a beta of 0.85.
In related news, Director R Alex Rankin purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $164.17 per share, for a total transaction of $164,170.00. Following the purchase, the director now directly owns 11,214 shares of the company’s stock, valued at $1,841,002.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert L. Evans sold 5,000 shares of Churchill Downs, stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $157.26, for a total transaction of $786,300.00. Following the sale, the director now owns 107,350 shares in the company, valued at $16,881,861. The disclosure for this sale can be found here. Insiders have sold a total of 11,475 shares of company stock worth $1,811,359 over the last quarter. 18.44% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Churchill Downs, during the fourth quarter valued at approximately $331,000. Cadence Capital Management LLC bought a new stake in shares of Churchill Downs, during the fourth quarter valued at approximately $478,000. Comerica Bank raised its stake in shares of Churchill Downs, by 8.3% in the fourth quarter. Comerica Bank now owns 7,257 shares of the company’s stock valued at $1,048,000 after buying an additional 558 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Churchill Downs, by 24.3% in the fourth quarter. Van ECK Associates Corp now owns 1,494 shares of the company’s stock valued at $225,000 after buying an additional 292 shares in the last quarter. Finally, Martingale Asset Management L P raised its stake in shares of Churchill Downs, by 74.5% in the fourth quarter. Martingale Asset Management L P now owns 37,703 shares of the company’s stock valued at $5,673,000 after buying an additional 16,099 shares in the last quarter. Hedge funds and other institutional investors own 69.40% of the company’s stock.
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About Churchill Downs,
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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