According to Zacks, “Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby. Churchill Downs, Inc. has Five racetracks; Six casinos; Big Fish Games, the world’s largest distributor of casual games; The country’s leading online wagering business, TwinSpires.com; A video poker business, A multi-state network of off-track betting (OTB) facilities; and a collection of racing-related data, totalisator and telecommunication companies that support CDI’s sports and gaming operations. CDI owes much to its horse racing heritage and is expanding on that tradition while evolving its business mix, management team and growth strategies to navigate any challenges. CDI’s launch of TwinSpires.com, an advance-deposit waging platform that allows customers to wager on horse racing from computers, tablet devices and smart phones, created another retail outlet for wagering transactions and data distribution. “
A number of other equities research analysts have also commented on the stock. Susquehanna Bancshares assumed coverage on shares of Churchill Downs in a report on Wednesday, July 24th. They set a positive rating and a $140.00 price target for the company. BidaskClub lowered shares of Churchill Downs from a strong-buy rating to a buy rating in a report on Saturday, September 7th. Telsey Advisory Group upped their price target on shares of Churchill Downs from $120.00 to $135.00 and gave the company an outperform rating in a report on Monday, July 1st. ValuEngine lowered shares of Churchill Downs from a sell rating to a strong sell rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group upped their price target on shares of Churchill Downs from $135.00 to $150.00 and gave the company a buy rating in a report on Friday, August 2nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Churchill Downs has an average rating of Hold and a consensus target price of $132.20.
NASDAQ:CHDN opened at $123.03 on Tuesday. The company has a fifty day moving average of $121.91 and a 200 day moving average of $106.75. Churchill Downs has a 52 week low of $74.58 and a 52 week high of $132.73. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $4.97 billion, a P/E ratio of 29.52, a P/E/G ratio of 1.45 and a beta of 1.20.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.83 EPS for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.01). Churchill Downs had a net margin of 15.76% and a return on equity of 34.23%. The firm had revenue of $477.40 million for the quarter, compared to the consensus estimate of $469.85 million. During the same quarter in the prior year, the company earned $7.71 earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, analysts anticipate that Churchill Downs will post 4.29 EPS for the current year.
In other Churchill Downs news, SVP Austin W. Miller sold 5,900 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $117.31, for a total value of $692,129.00. Following the completion of the transaction, the senior vice president now directly owns 40,494 shares in the company, valued at approximately $4,750,351.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.05% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CHDN. BlackRock Inc. raised its holdings in Churchill Downs by 203.0% in the 1st quarter. BlackRock Inc. now owns 4,077,620 shares of the company’s stock worth $368,046,000 after purchasing an additional 2,731,814 shares in the last quarter. FMR LLC increased its stake in shares of Churchill Downs by 409.3% in the 1st quarter. FMR LLC now owns 793,264 shares of the company’s stock worth $71,600,000 after acquiring an additional 637,495 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Churchill Downs by 154.2% in the 1st quarter. Acadian Asset Management LLC now owns 615,395 shares of the company’s stock worth $55,547,000 after acquiring an additional 373,260 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Churchill Downs in the 2nd quarter worth about $22,687,000. Finally, Fiera Capital Corp increased its stake in shares of Churchill Downs by 175.7% in the 1st quarter. Fiera Capital Corp now owns 254,185 shares of the company’s stock worth $22,943,000 after acquiring an additional 161,983 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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