A number of other research firms also recently weighed in on CHDN. ValuEngine downgraded Churchill Downs from a sell rating to a strong sell rating in a research note on Wednesday, September 4th. Susquehanna Bancshares assumed coverage on Churchill Downs in a research note on Wednesday, July 24th. They set a positive rating and a $140.00 price objective for the company. Zacks Investment Research upgraded Churchill Downs from a sell rating to a hold rating in a report on Tuesday, July 23rd. Jefferies Financial Group upped their price objective on Churchill Downs from $135.00 to $150.00 and gave the company a buy rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Finally, Telsey Advisory Group increased their target price on Churchill Downs from $120.00 to $135.00 and gave the company an outperform rating in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Churchill Downs currently has a consensus rating of Hold and a consensus price target of $132.20.
CHDN opened at $122.68 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The firm has a 50 day simple moving average of $121.30 and a 200 day simple moving average of $105.49. Churchill Downs has a fifty-two week low of $74.58 and a fifty-two week high of $132.73.
Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.01). Churchill Downs had a net margin of 15.76% and a return on equity of 34.23%. The business had revenue of $477.40 million during the quarter, compared to the consensus estimate of $469.85 million. During the same period in the previous year, the business posted $7.71 earnings per share. Churchill Downs’s revenue was up 25.8% compared to the same quarter last year. As a group, analysts expect that Churchill Downs will post 4.29 EPS for the current year.
In other news, SVP Austin W. Miller sold 5,900 shares of Churchill Downs stock in a transaction on Monday, July 8th. The shares were sold at an average price of $117.31, for a total transaction of $692,129.00. Following the transaction, the senior vice president now directly owns 40,494 shares of the company’s stock, valued at $4,750,351.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 13.05% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CHDN. Geode Capital Management LLC raised its stake in Churchill Downs by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 150,430 shares of the company’s stock worth $36,695,000 after buying an additional 16,314 shares during the period. Strs Ohio boosted its holdings in shares of Churchill Downs by 146.2% in the first quarter. Strs Ohio now owns 3,200 shares of the company’s stock valued at $288,000 after buying an additional 1,900 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Churchill Downs by 4,057.5% in the first quarter. BNP Paribas Arbitrage SA now owns 7,442 shares of the company’s stock valued at $672,000 after buying an additional 7,263 shares during the period. Bank of Montreal Can increased its position in shares of Churchill Downs by 110.8% during the first quarter. Bank of Montreal Can now owns 1,031 shares of the company’s stock worth $93,000 after acquiring an additional 542 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Churchill Downs by 139.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,098 shares of the company’s stock worth $189,000 after acquiring an additional 1,220 shares in the last quarter. Institutional investors and hedge funds own 71.45% of the company’s stock.
About Churchill Downs
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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