Churchill Downs (CHDN) Scheduled to Post Earnings on Wednesday

Churchill Downs (NASDAQ:CHDN) will post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Churchill Downs to post earnings of $0.77 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The company had revenue of $561.20 million during the quarter, compared to analyst estimates of $553.05 million. During the same period in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. On average, analysts expect Churchill Downs to post $5 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Churchill Downs Stock Down 0.3 %

NASDAQ:CHDN opened at $118.96 on Monday. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $150.45. The company has a 50-day moving average of $119.49 and a 200 day moving average of $120.41. The firm has a market cap of $8.77 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 8.29 and a beta of 1.03. The company has a debt-to-equity ratio of 5.34, a current ratio of 0.53 and a quick ratio of 0.53.

Institutional Trading of Churchill Downs

Hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Churchill Downs by 16.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,489 shares of the company’s stock valued at $996,000 after acquiring an additional 631 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Churchill Downs by 78.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684 shares of the company’s stock valued at $152,000 after acquiring an additional 300 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Churchill Downs by 24.8% during the first quarter. Citigroup Inc. now owns 21,849 shares of the company’s stock valued at $4,845,000 after acquiring an additional 4,345 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Churchill Downs by 2.2% during the first quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock valued at $749,830,000 after acquiring an additional 73,505 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Churchill Downs by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 19,258 shares of the company’s stock valued at $4,389,000 after acquiring an additional 1,467 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $150.00 price objective on shares of Churchill Downs in a research note on Wednesday, April 10th. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $137.00 to $141.00 in a research report on Monday, April 15th. Finally, Mizuho initiated coverage on shares of Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price target for the company. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $143.13.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.