According to Zacks, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests. “
Other equities research analysts have also issued reports about the company. Gabelli raised Churchill Downs from a hold rating to a buy rating in a research report on Friday, August 5th. Telsey Advisory Group raised their target price on Churchill Downs from $173.00 to $176.00 and gave the company an outperform rating in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. assumed coverage on Churchill Downs in a research report on Thursday, September 22nd. They set a neutral rating and a $160.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $161.60.
Churchill Downs (NASDAQ:CHDN) traded down 0.27% during midday trading on Monday, reaching $144.53. 18,762 shares of the company traded hands. Churchill Downs has a one year low of $118.76 and a one year high of $152.98. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 29.53 and a beta of 0.89. The firm has a 50-day moving average price of $148.18 and a 200-day moving average price of $137.41.
Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.55. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. The firm earned $438.50 million during the quarter, compared to analyst estimates of $435.37 million. During the same period last year, the firm posted $3.10 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Churchill Downs will post $5.94 EPS for the current fiscal year.
In related news, Director Robert L. Evans sold 5,000 shares of Churchill Downs stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $148.75, for a total value of $743,750.00. Following the completion of the sale, the director now owns 189,235 shares of the company’s stock, valued at approximately $28,148,706.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 19.05% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Brant Point Investment Management LLC raised its stake in shares of Churchill Downs by 0.3% in the second quarter. Brant Point Investment Management LLC now owns 35,200 shares of the company’s stock valued at $4,448,000 after buying an additional 100 shares during the period. Barclays PLC raised its position in Churchill Downs by 19.1% in the second quarter. Barclays PLC now owns 1,637 shares of the company’s stock worth $206,000 after buying an additional 263 shares during the last quarter. Stevens Capital Management LP raised its position in Churchill Downs by 23.1% in the second quarter. Stevens Capital Management LP now owns 1,719 shares of the company’s stock worth $217,000 after buying an additional 323 shares during the last quarter. BlackRock Advisors LLC raised its position in Churchill Downs by 5.8% in the second quarter. BlackRock Advisors LLC now owns 6,164 shares of the company’s stock worth $779,000 after buying an additional 338 shares during the last quarter. Finally, BlackRock Inc. raised its position in Churchill Downs by 125.6% in the first quarter. BlackRock Inc. now owns 900 shares of the company’s stock worth $133,000 after buying an additional 501 shares during the last quarter. 72.13% of the stock is owned by institutional investors.
About Churchill Downs
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Churchill Downs Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs Inc. and related companies with MarketBeat.com's FREE daily email newsletter.