Churchill Downs (CHDN) Coverage Initiated at Jefferies Group
Stock analysts at Jefferies Group initiated coverage on shares of Churchill Downs (NASDAQ:CHDN) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set a “hold” rating on the stock.
Several other brokerages have also weighed in on CHDN. BidaskClub upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Zacks Investment Research lowered shares of Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Telsey Advisory Group upped their target price on shares of Churchill Downs from $196.00 to $209.00 and gave the stock a “market perform” rating in a research report on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Churchill Downs has an average rating of “Buy” and an average target price of $233.33.
Shares of Churchill Downs (NASDAQ:CHDN) traded up $0.05 during trading on Thursday, hitting $252.20. 164,300 shares of the stock were exchanged, compared to its average volume of 160,573. Churchill Downs has a twelve month low of $141.00 and a twelve month high of $254.75. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $3,885.68, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.18. Churchill Downs had a net margin of 9.75% and a return on equity of 17.48%. The business had revenue of $314.80 million for the quarter, compared to analyst estimates of $308.43 million. During the same period in the previous year, the business posted $0.52 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. equities analysts forecast that Churchill Downs will post 7.05 EPS for the current fiscal year.
Churchill Downs announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 29th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in CHDN. Citigroup Inc. lifted its holdings in shares of Churchill Downs by 352.2% in the second quarter. Citigroup Inc. now owns 719 shares of the company’s stock valued at $132,000 after purchasing an additional 560 shares in the last quarter. Smithfield Trust Co. purchased a new stake in shares of Churchill Downs in the third quarter valued at about $175,000. Sawgrass Asset Management LLC purchased a new stake in shares of Churchill Downs in the second quarter valued at about $203,000. Community Trust & Investment Co. purchased a new stake in shares of Churchill Downs in the third quarter valued at about $206,000. Finally, Aviance Capital Partners LLC purchased a new stake in shares of Churchill Downs in the third quarter valued at about $206,000. 72.50% of the stock is currently owned by institutional investors.
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Churchill Downs Company Profile
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 five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.
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