Brokerages forecast that Churchill Downs, Inc. (NASDAQ:CHDN) will announce sales of $480.28 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Churchill Downs’ earnings. The highest sales estimate is $481.75 million and the lowest is $478.80 million. Churchill Downs posted sales of $379.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 26.6%. The company is scheduled to announce its next quarterly earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that Churchill Downs will report full-year sales of $1.33 billion for the current financial year, with estimates ranging from $1.32 billion to $1.33 billion. For the next year, analysts expect that the firm will report sales of $1.39 billion, with estimates ranging from $1.36 billion to $1.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Churchill Downs.
Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 24th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.23. The company had revenue of $265.40 million during the quarter, compared to the consensus estimate of $250.57 million. Churchill Downs had a return on equity of 33.97% and a net margin of 16.81%. The company’s revenue was up 40.2% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share.
CHDN has been the topic of several research analyst reports. BidaskClub raised shares of Churchill Downs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 27th. ValuEngine cut shares of Churchill Downs from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Zacks Investment Research cut shares of Churchill Downs from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Jefferies Financial Group set a $106.00 price target on shares of Churchill Downs and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. set a $105.00 price target on shares of Churchill Downs and gave the stock a “hold” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Churchill Downs currently has an average rating of “Hold” and an average target price of $104.42.
Shares of CHDN stock opened at $96.00 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 3.22. Churchill Downs has a one year low of $74.58 and a one year high of $104.87. The stock has a market cap of $3.85 billion, a PE ratio of 26.37, a P/E/G ratio of 1.09 and a beta of 1.21.
In related news, Director Karole Lloyd purchased 1,000 shares of Churchill Downs stock in a transaction dated Friday, March 22nd. The shares were acquired at an average price of $85.22 per share, with a total value of $85,220.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Alex Rankin purchased 500 shares of Churchill Downs stock in a transaction dated Wednesday, May 1st. The shares were bought at an average cost of $101.83 per share, for a total transaction of $50,915.00. The disclosure for this purchase can be found here. Company insiders own 13.05% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new position in Churchill Downs in the fourth quarter worth about $37,000. Shine Investment Advisory Services Inc. acquired a new position in Churchill Downs in the fourth quarter worth approximately $58,000. Flagship Harbor Advisors LLC grew its position in Churchill Downs by 50.6% in the fourth quarter. Flagship Harbor Advisors LLC now owns 238 shares of the company’s stock worth $58,000 after buying an additional 80 shares during the last quarter. Gemmer Asset Management LLC grew its position in Churchill Downs by 200.0% in the first quarter. Gemmer Asset Management LLC now owns 300 shares of the company’s stock worth $27,000 after buying an additional 200 shares during the last quarter. Finally, FinTrust Capital Advisors LLC acquired a new position in Churchill Downs in the first quarter worth approximately $27,000. 29.47% of the stock is currently owned by institutional investors and hedge funds.
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, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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