Churchill Downs (CHDN) Earning Somewhat Positive News Coverage, Analysis Finds
Headlines about Churchill Downs (NASDAQ:CHDN) have trended somewhat positive on Tuesday, according to Accern Sentiment. The research firm identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Churchill Downs earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned headlines about the company an impact score of 46.4550956757808 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the news headlines that may have effected Accern’s scoring:
- BRIEF-Churchill Downs announces pricing of $400 mln senior secured term loan B due 2024 (feeds.reuters.com)
- Churchill Downs Incorporated Announces Pricing of $400 Million Senior Secured Term Loan B due 2024 and $500 Million Senior Notes due 2028 (finance.yahoo.com)
- Churchill Downs Incorporated — Moody’s assigns Ba2 to Churchill Downs’ proposed $1.3 billion bank credit facility; senior unsecured notes lowered to B2 from B1; Ba3 CFR affirmed (finance.yahoo.com)
- ETFs with exposure to Churchill Downs, Inc. : December 8, 2017 (finance.yahoo.com)
- Churchill Downs Incorporated — Moody’s assigns Ba2 to Churchill Downs’ proposed $1.3 billion term loan B; senior unsecured notes lowered to B2 from B1; Ba3 CFR affirmed (finance.yahoo.com)
CHDN has been the subject of a number of recent research reports. Telsey Advisory Group boosted their target price on Churchill Downs from $182.00 to $196.00 and gave the company a “market perform” rating in a research note on Thursday, September 14th. Zacks Investment Research lowered Churchill Downs from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, BidaskClub raised Churchill Downs from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd.
Churchill Downs (NASDAQ:CHDN) traded down $1.25 during midday trading on Tuesday, hitting $226.00. The stock had a trading volume of 105,347 shares, compared to its average volume of 73,351. Churchill Downs has a 12 month low of $141.00 and a 12 month high of $237.82. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $3,490.00, a price-to-earnings ratio of 32.67 and a beta of 0.92.
Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, November 1st. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.18. Churchill Downs had a return on equity of 17.48% and a net margin of 9.75%. The company had revenue of $314.80 million during the quarter, compared to analyst estimates of $308.43 million. During the same quarter in the previous year, the company posted $0.52 EPS. Churchill Downs’s revenue for the quarter was up 3.8% on a year-over-year basis. sell-side analysts anticipate that Churchill Downs will post 6.95 earnings per share for the current year.
Churchill Downs declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be issued a dividend of $1.52 per share. This represents a yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from Churchill Downs’s previous annual dividend of $1.32. Churchill Downs’s payout ratio is currently 18.98%.
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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 six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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