Equities analysts predict that Churchill Downs Incorporated (NASDAQ:CHDN) will announce earnings per share of $0.64 for the current quarter, according to Zacks. Two analysts have issued estimates for Churchill Downs’ earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.65. Churchill Downs reported earnings of $0.05 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 1,180%. The firm is expected to report its next earnings results on Wednesday, May 5th.
On average, analysts expect that Churchill Downs will report full-year earnings of $4.98 per share for the current fiscal year, with EPS estimates ranging from $4.15 to $5.65. For the next fiscal year, analysts expect that the firm will report earnings of $7.87 per share, with EPS estimates ranging from $6.62 to $8.90. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Churchill Downs.
Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Tuesday, February 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.08). The company had revenue of $278.20 million for the quarter, compared to the consensus estimate of $275.52 million. Churchill Downs had a positive return on equity of 11.09% and a negative net margin of 8.99%.
Several brokerages recently weighed in on CHDN. KeyCorp increased their target price on Churchill Downs from $239.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, March 8th. Bank of America began coverage on Churchill Downs in a research note on Monday, January 4th. They set a “buy” rating and a $235.00 target price for the company. Finally, Zacks Investment Research downgraded Churchill Downs from a “buy” rating to a “strong sell” rating in a research note on Tuesday, March 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $207.67.
Hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System lifted its position in shares of Churchill Downs by 6.4% in the 4th quarter. California Public Employees Retirement System now owns 92,258 shares of the company’s stock worth $17,971,000 after acquiring an additional 5,552 shares during the period. Ziegler Capital Management LLC lifted its position in shares of Churchill Downs by 1.8% in the 4th quarter. Ziegler Capital Management LLC now owns 50,131 shares of the company’s stock worth $9,765,000 after acquiring an additional 902 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Churchill Downs by 98.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 1,997 shares of the company’s stock worth $389,000 after acquiring an additional 993 shares during the period. SG Americas Securities LLC lifted its position in shares of Churchill Downs by 438.6% in the 4th quarter. SG Americas Securities LLC now owns 5,882 shares of the company’s stock worth $1,146,000 after acquiring an additional 4,790 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Churchill Downs by 547.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 116,294 shares of the company’s stock worth $763,000 after buying an additional 98,344 shares in the last quarter. Institutional investors own 73.01% of the company’s stock.
NASDAQ:CHDN traded down $4.97 during mid-day trading on Wednesday, hitting $216.94. 5,097 shares of the company’s stock traded hands, compared to its average volume of 211,603. The firm has a 50 day moving average of $233.28 and a two-hundred day moving average of $200.14. Churchill Downs has a 12 month low of $85.24 and a 12 month high of $258.32. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of -92.08 and a beta of 1.37. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 5.81.
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: Churchill Downs, Online Wagering, and Gaming. As of March 18, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; seven 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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