Churchill Downs (NASDAQ:CHDN) announced its quarterly earnings results on Wednesday. The company reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.01), Briefing.com reports. The company had revenue of $477.40 million for the quarter, compared to analyst estimates of $469.85 million. Churchill Downs had a net margin of 16.81% and a return on equity of 33.97%. Churchill Downs’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.71 earnings per share.
Churchill Downs stock traded down $5.88 during trading on Friday, reaching $120.35. The stock had a trading volume of 374,846 shares, compared to its average volume of 202,310. Churchill Downs has a 52-week low of $74.58 and a 52-week high of $132.73. The firm has a 50 day moving average of $116.86. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $4.84 billion, a PE ratio of 33.06, a PEG ratio of 1.43 and a beta of 1.23.
CHDN has been the subject of a number of research reports. BidaskClub upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a report on Thursday. Susquehanna Bancshares initiated coverage on shares of Churchill Downs in a report on Wednesday, July 24th. They issued a “positive” rating and a $140.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of Churchill Downs from $135.00 to $150.00 and gave the company a “buy” rating in a report on Friday. They noted that the move was a valuation call. ValuEngine cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $132.20.
In related news, SVP Austin W. Miller sold 5,900 shares of Churchill Downs stock in a transaction that occurred 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 owns 40,494 shares in the company, valued at $4,750,351.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.05% of the stock is owned by insiders.
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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