Churchill Downs Inc. (NASDAQ:CHDN) – Analysts at Imperial Capital issued their Q3 2016 earnings estimates for Churchill Downs in a research note issued on Friday. Imperial Capital analyst G. Klein anticipates that the brokerage will post earnings per share of $0.90 for the quarter. Imperial Capital has a “Outperform” rating and a $165.00 price objective on the stock. Imperial Capital also issued estimates for Churchill Downs’ Q4 2016 earnings at $0.76 EPS and FY2017 earnings at $6.90 EPS.
A number of other analysts also recently issued reports on CHDN. Zacks Investment Research raised Churchill Downs from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th. Telsey Advisory Group lifted their price target on Churchill Downs from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Gabelli raised Churchill Downs from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. started coverage on Churchill Downs in a report on Thursday, September 22nd. They set a “neutral” rating and a $160.00 price target for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $162.17.
Churchill Downs (NASDAQ:CHDN) opened at 141.03 on Monday. The firm’s 50-day moving average price is $147.07 and its 200-day moving average price is $137.36. Churchill Downs has a 12 month low of $118.76 and a 12 month high of $152.98. The stock has a market cap of $2.33 billion, a P/E ratio of 28.82 and a beta of 0.89.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Thursday, August 4th. The company reported $4.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.56 by $0.55. The company had revenue of $438.50 million for the quarter, compared to the consensus estimate of $435.37 million. Churchill Downs had a return on equity of 12.99% and a net margin of 6.59%. Churchill Downs’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.10 earnings per share.
In other news, Director Robert L. Evans sold 5,000 shares of Churchill Downs stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $150.00, for a total transaction of $750,000.00. Following the sale, the director now owns 184,235 shares in the company, valued at $27,635,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.05% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. HBK Investments L P bought a new position in shares of Churchill Downs during the first quarter valued at about $680,000. Nationwide Fund Advisors boosted its position in shares of Churchill Downs by 255.2% in the second quarter. Nationwide Fund Advisors now owns 29,265 shares of the company’s stock valued at $3,698,000 after buying an additional 21,026 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Churchill Downs by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 115,019 shares of the company’s stock valued at $17,009,000 after buying an additional 4,895 shares during the period. Credit Agricole S A bought a new position in shares of Churchill Downs during the first quarter valued at about $2,514,000. Finally, Bruderman Asset Management LLC bought a new position in shares of Churchill Downs during the second quarter valued at about $140,000. Hedge funds and other institutional investors own 72.13% of the company’s stock.
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.
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