Churchill Downs (CHDN) Set to Announce Earnings on Wednesday

Churchill Downs (NASDAQ:CHDN) is scheduled to be releasing its earnings data after the market closes on Wednesday, April 24th. Analysts expect Churchill Downs to post earnings of $0.77 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.18. The company had revenue of $561.20 million during the quarter, compared to analyst estimates of $553.05 million. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. On average, analysts expect Churchill Downs to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $124.10 on Wednesday. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 22.75 and a beta of 1.03. Churchill Downs has a one year low of $106.45 and a one year high of $150.45. The company’s 50-day simple moving average is $119.68 and its 200-day simple moving average is $120.28. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in Churchill Downs by 2.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 30,235 shares of the company’s stock valued at $4,080,000 after purchasing an additional 808 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Churchill Downs by 2.8% in the fourth quarter. Legal & General Group Plc now owns 106,022 shares of the company’s stock valued at $14,306,000 after purchasing an additional 2,914 shares during the period. Barclays PLC raised its holdings in shares of Churchill Downs by 85.4% during the fourth quarter. Barclays PLC now owns 58,071 shares of the company’s stock valued at $7,836,000 after buying an additional 26,747 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its position in shares of Churchill Downs by 50.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 30,000 shares of the company’s stock worth $4,048,000 after buying an additional 10,000 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Churchill Downs by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock worth $907,593,000 after buying an additional 37,065 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

CHDN has been the subject of several research reports. JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Churchill Downs in a research report on Wednesday, April 10th. Mizuho began coverage on shares of Churchill Downs in a report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price objective for the company. Finally, Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $137.00 to $141.00 in a report on Monday. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.13.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.