Zacks: Analysts Anticipate Churchill Downs, Incorporated (CHDN) Will Announce Earnings of $0.91 Per Share
Analysts expect Churchill Downs, Incorporated (NASDAQ:CHDN) to post earnings of $0.91 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Churchill Downs,’s earnings, with estimates ranging from $0.86 to $0.96. Churchill Downs, posted earnings of $0.52 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 75%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Churchill Downs, will report full year earnings of $6.74 per share for the current financial year, with EPS estimates ranging from $6.73 to $6.75. For the next financial year, analysts anticipate that the company will post earnings of $7.63 per share, with EPS estimates ranging from $7.43 to $7.96. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Churchill Downs,.
Churchill Downs, (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.30. The business had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $439.33 million. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.11 EPS.
CHDN has been the subject of several analyst reports. BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded Churchill Downs, from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Telsey Advisory Group increased their price objective on Churchill Downs, from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. Finally, Imperial Capital increased their price objective on Churchill Downs, from $184.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $191.25.
Churchill Downs, (NASDAQ CHDN) traded up 1.38% during trading on Friday, reaching $198.65. The company’s stock had a trading volume of 186,001 shares. Churchill Downs, has a one year low of $131.70 and a one year high of $199.65. The stock has a 50-day moving average of $191.45 and a 200 day moving average of $173.07. The firm has a market capitalization of $3.06 billion, a P/E ratio of 27.10 and a beta of 0.88.
In related news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $195.00, for a total value of $975,000.00. Following the completion of the transaction, the director now directly owns 95,878 shares in the company, valued at $18,696,210. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.44% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Citigroup Inc. boosted its position in shares of Churchill Downs, by 352.2% during the second quarter. Citigroup Inc. now owns 719 shares of the company’s stock worth $132,000 after buying an additional 560 shares during the period. LS Investment Advisors LLC boosted its position in shares of Churchill Downs, by 96.6% during the first quarter. LS Investment Advisors LLC now owns 743 shares of the company’s stock worth $118,000 after buying an additional 365 shares during the period. Bruderman Asset Management LLC purchased a new position in shares of Churchill Downs, during the second quarter worth $161,000. Strs Ohio boosted its position in shares of Churchill Downs, by 150.0% during the second quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after buying an additional 600 shares during the period. Finally, Sawgrass Asset Management LLC purchased a new position in shares of Churchill Downs, during the second quarter worth $203,000. Institutional investors own 73.84% of the company’s stock.
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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