Churchill Downs, Inc. (NASDAQ:CHDN) – Analysts at Gabelli raised their FY2017 earnings estimates for Churchill Downs in a research note issued to investors on Thursday. Gabelli analyst A. Trivison now forecasts that the company will earn $7.35 per share for the year, up from their previous estimate of $7.05.
A number of other research firms also recently weighed in on CHDN. Zacks Investment Research downgraded shares of Churchill Downs from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. BidaskClub upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Finally, Telsey Advisory Group raised their price target on shares of Churchill Downs from $196.00 to $209.00 and gave the company a “market perform” rating in a research note on Thursday, October 12th.
Shares of Churchill Downs (NASDAQ CHDN) opened at $252.85 on Monday. Churchill Downs has a one year low of $141.00 and a one year high of $254.75. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.77. The firm has a market cap of $3,896.42, a P/E ratio of 31.89 and a beta of 0.92.
Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, November 1st. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.90 by $0.18. Churchill Downs had a net margin of 9.75% and a return on equity of 17.48%. The firm had revenue of $314.80 million for the quarter, compared to analyst estimates of $308.43 million. During the same period last year, the firm earned $0.52 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year.
Churchill Downs announced that its board has approved a stock repurchase program on Wednesday, November 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared an annual dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 1st were paid a $1.52 dividend. This is an increase from Churchill Downs’s previous annual dividend of $1.32. This represents a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, November 30th. Churchill Downs’s dividend payout ratio (DPR) is presently 19.17%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in shares of Churchill Downs in the 3rd quarter valued at approximately $220,000. California Public Employees Retirement System boosted its stake in shares of Churchill Downs by 14.3% in the 3rd quarter. California Public Employees Retirement System now owns 25,725 shares of the company’s stock valued at $5,304,000 after purchasing an additional 3,225 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Churchill Downs in the 3rd quarter valued at approximately $770,000. Allianz Asset Management GmbH boosted its stake in shares of Churchill Downs by 6.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 6,248 shares of the company’s stock valued at $1,288,000 after purchasing an additional 353 shares in the last quarter. Finally, ARGI Investment Services LLC acquired a new stake in Churchill Downs during the 3rd quarter worth approximately $2,822,000. Institutional investors own 72.50% of the company’s stock.
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Churchill Downs Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through five segments: Racing, Casinos, TwinSpires, Other Investments and Corporate.
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