Zacks: Analysts Expect Churchill Downs, Inc. (NASDAQ:CHDN) to Announce $3.03 Earnings Per Share

Wall Street brokerages expect Churchill Downs, Inc. (NASDAQ:CHDN) to report earnings per share of $3.03 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Churchill Downs’ earnings. The highest EPS estimate is $3.20 and the lowest is $2.85. Churchill Downs posted earnings of $2.57 per share in the same quarter last year, which would suggest a positive year over year growth rate of 17.9%. The business is expected to report its next earnings results on Wednesday, August 7th.

On average, analysts expect that Churchill Downs will report full-year earnings of $4.40 per share for the current year. For the next financial year, analysts forecast that the company will report earnings of $5.08 per share, with EPS estimates ranging from $4.40 to $5.75. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Churchill Downs.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.23. Churchill Downs had a net margin of 16.81% and a return on equity of 33.97%. The business had revenue of $265.40 million for the quarter, compared to the consensus estimate of $250.57 million. During the same period last year, the firm earned $1.09 earnings per share. The company’s quarterly revenue was up 40.2% on a year-over-year basis.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Churchill Downs from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a research report on Wednesday, June 19th. BidaskClub downgraded shares of Churchill Downs from a “buy” rating to a “hold” rating in a research report on Monday, June 24th. Jefferies Financial Group increased their price target on shares of Churchill Downs from $110.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. ValuEngine upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Tuesday, June 4th. Finally, Telsey Advisory Group upgraded shares of Churchill Downs from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $108.00 to $120.00 in a research report on Wednesday, June 5th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Churchill Downs currently has an average rating of “Hold” and an average target price of $121.00.

CHDN opened at $115.07 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 3.22. Churchill Downs has a 1-year low of $74.58 and a 1-year high of $117.14. The company has a market capitalization of $4.46 billion, a P/E ratio of 31.61, a PEG ratio of 1.26 and a beta of 1.18. The stock has a 50 day simple moving average of $104.71.

In other news, Director R Alex Rankin acquired 500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average cost of $101.83 per share, for a total transaction of $50,915.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 13.05% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can raised its position in shares of Churchill Downs by 18.4% during the 4th quarter. Bank of Montreal Can now owns 489 shares of the company’s stock valued at $119,000 after purchasing an additional 76 shares during the period. Advisory Services Network LLC bought a new stake in shares of Churchill Downs during the 4th quarter valued at $37,000. Gemmer Asset Management LLC raised its position in shares of Churchill Downs by 200.0% during the 1st quarter. Gemmer Asset Management LLC now owns 300 shares of the company’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Van ECK Associates Corp increased its holdings in Churchill Downs by 17.5% in the 4th quarter. Van ECK Associates Corp now owns 1,664 shares of the company’s stock valued at $406,000 after acquiring an additional 248 shares during the last quarter. Finally, FTB Advisors Inc. increased its holdings in Churchill Downs by 248.0% in the 1st quarter. FTB Advisors Inc. now owns 355 shares of the company’s stock valued at $31,000 after acquiring an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

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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Earnings History and Estimates for Churchill Downs (NASDAQ:CHDN)

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