Wall Street analysts expect Churchill Downs Incorporated (NASDAQ:CHDN – Get a rating) will post earnings per share (EPS) of $4.13 for the current fiscal quarter, according to Zacks. Seven analysts have made earnings estimates for Churchill Downs, with estimates ranging from $3.60 to $4.60. Churchill Downs posted earnings per share of $3.08 in the same quarter last year, indicating a positive year-over-year growth rate of 34.1%. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Churchill Downs to report annual earnings of $8.54 per share for the current fiscal year, with EPS estimates ranging from $7.44 to $9.18. For the next fiscal year, analysts expect the company to report earnings of $12.69 per share, with EPS estimates ranging from $7.39 to $17.50. Zacks earnings per share calculations are an average average based on a survey of research firms that provide coverage for Churchill Downs.
Churchill Downs (NASDAQ:CHDN – Get a rating) last reported results on Wednesday, April 27. The company reported EPS of $1.18 for the quarter, beating the consensus estimate of $1.13 by $0.05. The company posted revenue of $364.10 million for the quarter, versus a consensus estimate of $345.02 million. Churchill Downs had a return on equity of 87.26% and a net margin of 15.58%. During the same period a year earlier, the company posted earnings per share of $0.87.
A number of research analysts have recently published reports on the company. Zacks Investment Research upgraded Churchill Downs from a ‘sell’ rating to a ‘hold’ rating in a Tuesday, March 1 report. StockNews.com threw a blanket on Churchill Downs in a report on Thursday, March 31. They issued a “holding” rating on the stock. KeyCorp raised its price target on Churchill Downs from $270.00 to $300.00 and gave the stock an “overweight” rating in a Monday, Feb. 28 research note. Finally, Wells Fargo & Company lowered its price target on Churchill Downs from $272.00 to $268.00 and set an “overweight” rating on the stock in a Wednesday, April 13 report. Two equity research analysts gave the stock a hold rating and seven gave the stock a buy rating. According to MarketBeat.com, Churchill Downs has a consensus buy rating and an average price target of $272.88.
Churchill Downs Action traded down $0.12 in midday trading on Monday, hitting $185.51. 214,909 shares of the stock traded in hands, compared to its average volume of 200,230. The company has a quick ratio of 1.20, a current ratio of 1.20 and a leverage ratio of 6.17 . The stock’s fifty-day moving average is $209.90 and its 200-day moving average is $219.07. Churchill Downs has a 12-month low of $175.01 and a 12-month high of $262.20. The stock has a market capitalization of $7.05 billion, a P/E ratio of 28.45, a PEG ratio of 1.32 and a beta of 1.13.
Several institutional investors have recently increased or reduced their stake in CHDN. BlackRock Inc. increased its stake in shares of Churchill Downs by 2.2% during the 1st quarter. BlackRock Inc. now owns 3,380,964 shares of the company worth $749,830,000 after purchasing an additional 73,505 shares last quarter. London Co. of Virginia increased its stake in Churchill Downs by 112.2% in the third quarter. London Co. of Virginia now owns 1,018,291 shares of the company worth $244,471,000 after purchasing an additional 538,315 shares during the period. State Street Corp increased its stake in shares of Churchill Downs by 3.4% in the first quarter. State Street Corp now owns 910,547 shares of the company valued at $201,941,000 after purchasing an additional 29,639 shares during the period. Schroder Investment Management Group increased its position in Churchill Downs shares by 15.5% during the fourth quarter. Schroder Investment Management Group now owns 845,666 shares of the company valued at $203,721,000 after purchasing an additional 113,340 shares last quarter. Finally, Brown Advisory Inc. increased its holdings in Churchill Downs by 8.3% in the first quarter. Brown Advisory Inc. now owns 547,197 shares of the company worth $121,437,000 after acquiring an additional 41,910 shares last quarter. 77.82% of the shares are held by institutional investors.
About Churchill Downs (Get a rating)
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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