Wall Street analysts expect Churchill Downs, Inc. (NASDAQ:CHDN) to post $127.23 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Churchill Downs’ earnings. The highest sales estimate is $147.66 million and the lowest is $106.80 million. Churchill Downs posted sales of $477.40 million during the same quarter last year, which suggests a negative year over year growth rate of 73.3%. The company is expected to announce its next quarterly earnings results on Wednesday, July 29th.
According to Zacks, analysts expect that Churchill Downs will report full year sales of $1.02 billion for the current financial year, with estimates ranging from $963.80 million to $1.07 billion. For the next financial year, analysts forecast that the firm will report sales of $1.45 billion, with estimates ranging from $1.41 billion to $1.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Churchill Downs.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.11). Churchill Downs had a net margin of 7.78% and a return on equity of 30.45%. The company had revenue of $252.90 million during the quarter, compared to the consensus estimate of $251.45 million. During the same period in the previous year, the business posted $0.63 earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis.
A number of research analysts recently weighed in on the company. TheStreet downgraded Churchill Downs from a “b-” rating to a “c+” rating in a research note on Wednesday, March 18th. BidaskClub raised Churchill Downs from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 28th. Zacks Investment Research downgraded Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Churchill Downs from $138.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, ValuEngine raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $147.75.
In other Churchill Downs news, COO William E. Mudd sold 5,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $125.59, for a total value of $627,950.00. Following the completion of the sale, the chief operating officer now directly owns 281,690 shares in the company, valued at $35,377,447.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William E. Mudd sold 4,138 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $139.19, for a total value of $575,968.22. Following the completion of the sale, the chief operating officer now owns 276,583 shares of the company’s stock, valued at $38,497,587.77. The disclosure for this sale can be found here. Insiders sold 14,138 shares of company stock valued at $1,813,968 over the last 90 days. Corporate insiders own 4.28% of the company’s stock.
Several hedge funds have recently bought and sold shares of CHDN. Marshall Wace North America L.P. boosted its position in shares of Churchill Downs by 200.0% during the first quarter. Marshall Wace North America L.P. now owns 780 shares of the company’s stock worth $70,000 after buying an additional 520 shares during the period. First Trust Advisors LP boosted its position in shares of Churchill Downs by 290.7% during the first quarter. First Trust Advisors LP now owns 16,361 shares of the company’s stock worth $1,477,000 after buying an additional 12,173 shares during the period. Victory Capital Management Inc. boosted its position in shares of Churchill Downs by 58.2% during the fourth quarter. Victory Capital Management Inc. now owns 293,721 shares of the company’s stock worth $40,299,000 after buying an additional 108,065 shares during the period. Bank of Montreal Can boosted its position in Churchill Downs by 94.5% during the fourth quarter. Bank of Montreal Can now owns 8,403 shares of the company’s stock valued at $1,154,000 after purchasing an additional 4,082 shares during the last quarter. Finally, KBC Group NV boosted its position in Churchill Downs by 36.5% during the fourth quarter. KBC Group NV now owns 18,594 shares of the company’s stock valued at $2,551,000 after purchasing an additional 4,977 shares during the last quarter. 73.36% of the stock is owned by institutional investors.
Shares of CHDN stock traded up $0.22 during trading on Tuesday, reaching $132.14. The company had a trading volume of 263,951 shares, compared to its average volume of 389,712. The firm’s 50 day simple moving average is $130.30 and its two-hundred day simple moving average is $123.09. The company has a debt-to-equity ratio of 4.95, a current ratio of 2.45 and a quick ratio of 2.45. Churchill Downs has a one year low of $52.90 and a one year high of $167.52. The company has a market capitalization of $5.21 billion, a PE ratio of 52.86 and a beta of 1.16.
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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