Churchill Downs Incorporated (NASDAQ:CHDN) will post earnings of $1.00 per share in the third quarter of 2022, according to Jefferies Financial Group forecast
Churchill Downs Incorporated (NASDAQ:CHDN – Get an assessment) – Equity researchers at Jefferies Financial Group cut their third quarter 2022 earnings per share (EPS) estimates for Churchill Downs in a report released Tuesday, October 18. Jefferies Financial Group analyst D. Katz now expects the company to post earnings per share of $1.00 for the quarter, down from its previous forecast of $1.29. The consensus estimate for Churchill Downs’ current annual earnings is $7.32 per share. Jefferies Financial Group also released estimates for Churchill Downs Q4 2022 earnings at $0.89 EPS, Q2 2023 earnings at $5.39 EPS and fiscal year 2024 earnings at $16.82 EPS.
Several other research analysts have also recently commented on the company. StockNews.com began covering Churchill Downs in a research note on Wednesday October 12. They issued a “hold” rating on the stock. Wells Fargo & Company cut its price target on Churchill Downs from $270.00 to $255.00 and set an “overweight” rating on the stock in a Thursday, July 14 research note. Finally, KeyCorp set a target price of $280.00 on Churchill Downs in a Tuesday July 19 research note. One equity research analyst gave the stock a hold rating and four gave the company’s stock a buy rating. According to data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and an average target price of $267.75.
Churchill Downs stock up 0.8%
NASDAQ CHDN opened at $200.58 on Friday. The stock’s 50-day moving average price is $199.36 and its 200-day moving average price is $200.64. The company has a quick ratio of 3.79, a current ratio of 3.79 and a leverage ratio of 5.23. Churchill Downs has a 52-week low of $172.75 and a 52-week high of $258.35. The company has a market capitalization of $7.56 billion, a P/E ratio of 15.98, a price-to-earnings growth ratio of 0.80 and a beta of 1.10.
Churchill Downs (NASDAQ:CHDN – Get an assessment) last released its quarterly earnings data on Wednesday, July 27. The company reported EPS of $3.90 for the quarter, beating the consensus estimate of $3.83 by $0.07. Churchill Downs had a return on equity of 78.89% and a net margin of 28.52%. The company posted revenue of $582.50 million for the quarter, versus a consensus estimate of $592.06 million. In the same quarter last year, the company earned earnings per share of $3.08. The company’s revenue for the quarter increased by 13.1% compared to the same quarter last year.
Hedge funds weigh on Churchill Downs
Several institutional investors have recently increased or reduced their stake in the company. Valeo Financial Advisors LLC increased its stake in Churchill Downs by 4.6% in the second quarter. Valeo Financial Advisors LLC now owns 1,088 shares of the company valued at $208,000 after buying 48 additional shares last quarter. Park Avenue Securities LLC increased its holdings in Churchill Downs by 4.2% during the first quarter. Park Avenue Securities LLC now owns 1,430 shares of the company valued at $317,000 after purchasing 58 additional shares in the last quarter. Xponance Inc. increased its holdings in Churchill Downs by 0.8% during the second quarter. Xponance Inc. now owns 7,653 shares of the company valued at $1,466,000 after purchasing an additional 62 shares in the last quarter. Commerce Bank increased its holdings at Churchill Downs by 2.5% during the first quarter. Commerce Bank now owns 3,053 shares of the company valued at $677,000 after buying 75 more shares last quarter. Finally, Sculati Wealth Management LLC increased its holdings in Churchill Downs by 3.4% during the second quarter. Sculati Wealth Management LLC now owns 2,270 shares of the company valued at $435,000 after buying 75 additional shares last quarter. Hedge funds and other institutional investors own 71.98% of the company’s shares.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, online betting and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires and Gaming. As of December 31, 2021, the Company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historic racing machines (HRMs) in Kentucky; TwinSpires, an online betting platform for horse racing, sports and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals and 200 table games.
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