Churchill Downs Inc. Forecasted to Post Q3 2016 Earnings of $0.90 Per Share (CHDN)
Churchill Downs Inc. (NASDAQ:CHDN) – Stock analysts at Imperial Capital issued their Q3 2016 earnings estimates for shares of Churchill Downs in a research note issued on Friday. Imperial Capital analyst G. Klein expects that the firm will post earnings of $0.90 per share 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 research firms have also recently issued reports on CHDN. Zacks Investment Research cut Churchill Downs from a “buy” rating to a “hold” rating in a research note on Monday, October 10th. JPMorgan Chase & Co. initiated coverage on Churchill Downs in a research note on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 target price on the stock. Gabelli upgraded Churchill Downs from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Finally, 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 note on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $162.17.
Churchill Downs (NASDAQ:CHDN) opened at 142.29 on Monday. The firm has a 50-day moving average of $147.43 and a 200-day moving average of $137.51. Churchill Downs has a 12-month low of $118.76 and a 12-month high of $152.98. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 29.07 and a beta of 0.89.
Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Thursday, August 4th. The company reported $4.11 EPS for the quarter, topping the consensus estimate of $3.56 by $0.55. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. The business had revenue of $438.50 million for the quarter, compared to analyst estimates of $435.37 million. During the same period in the previous year, the firm earned $3.10 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year.
In other news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $147.50, for a total transaction of $737,500.00. Following the transaction, the director now directly owns 194,235 shares of the company’s stock, valued at $28,649,662.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.05% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Brant Point Investment Management LLC raised its position 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 worth $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 currently 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.
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