Churchill Downs Inc. Expected to Earn Q3 2016 Earnings of $0.90 Per Share (CHDN)
Churchill Downs Inc. (NASDAQ:CHDN) – Analysts at Imperial Capital issued their Q3 2016 earnings per share estimates for Churchill Downs in a report released on Friday. Imperial Capital analyst G. Klein expects 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.
CHDN has been the subject of several other research reports. Zacks Investment Research upgraded shares of Churchill Downs from a “hold” rating to a “strong-buy” rating and set a $167.00 price target for the company in a report on Wednesday, October 5th. JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a report on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 price target for the company. Telsey Advisory Group upped their price target on shares of Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, Gabelli upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Churchill Downs currently has an average rating of “Buy” and an average target price of $162.17.
Churchill Downs (NASDAQ:CHDN) opened at 141.03 on Monday. The company has a market cap of $2.33 billion, a P/E ratio of 28.82 and a beta of 0.89. Churchill Downs has a 12-month low of $118.76 and a 12-month high of $152.98. The stock’s 50 day moving average is $147.07 and its 200 day moving average is $137.36.
Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Thursday, August 4th. The company reported $4.11 EPS for the quarter, topping the consensus estimate of $3.56 by $0.55. The firm had revenue of $438.50 million for the quarter, compared to the consensus estimate of $435.37 million. Churchill Downs had a net margin of 6.59% and a return on equity of 12.99%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.10 EPS.
In related news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $147.50, for a total transaction of $737,500.00. Following the completion of the transaction, the director now owns 194,235 shares in the company, valued at $28,649,662.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.05% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. HBK Investments L P purchased a new stake in shares of Churchill Downs during the first quarter worth approximately $680,000. Nationwide Fund Advisors boosted its stake 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 worth $3,698,000 after buying an additional 21,026 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 worth $17,009,000 after buying an additional 4,895 shares in the last quarter. Credit Agricole S A purchased a new stake in shares of Churchill Downs during the first quarter worth approximately $2,514,000. Finally, Bruderman Asset Management LLC purchased a new stake in shares of Churchill Downs during the second quarter worth approximately $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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