Churchill Downs, Incorporated (NASDAQ:CHDN) PT Raised to $208.00
Churchill Downs, Incorporated (NASDAQ:CHDN) had its price objective boosted by Imperial Capital from $184.00 to $208.00 in a research note released on Friday morning, Marketbeat reports. Imperial Capital currently has an outperform rating on the stock. Imperial Capital also issued estimates for Churchill Downs,’s FY2018 earnings at $7.43 EPS.
Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Churchill Downs, from a buy rating to a hold rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Churchill Downs, from a sell rating to a hold rating in a research report on Tuesday, July 11th. Finally, Telsey Advisory Group cut shares of Churchill Downs, from an outperform rating to a market perform rating and set a $174.00 price objective for the company. in a research report on Friday, April 28th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $179.75.
Churchill Downs, (NASDAQ:CHDN) opened at 187.05 on Friday. The firm has a 50-day moving average of $182.49 and a 200 day moving average of $164.12. The company has a market capitalization of $3.01 billion, a P/E ratio of 25.56 and a beta of 0.88. Churchill Downs, has a 52-week low of $129.65 and a 52-week high of $194.75.
Churchill Downs, (NASDAQ:CHDN) last posted its earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.30. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The firm had revenue of $451.90 million during the quarter, compared to analysts’ expectations of $439.33 million. During the same period in the previous year, the business posted $4.11 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Equities analysts predict that Churchill Downs, will post $6.43 earnings per share for the current fiscal year.
Churchill Downs, announced that its board has authorized a share repurchase program on Tuesday, April 25th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 99% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other Churchill Downs, news, Director R Alex Rankin bought 1,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average cost of $164.17 per share, for a total transaction of $164,170.00. Following the completion of the transaction, the director now owns 11,214 shares in the company, valued at approximately $1,841,002.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard L. Duchossois bought 4,548 shares of the stock in a transaction dated Thursday, May 18th. The shares were acquired at an average price of $164.95 per share, for a total transaction of $750,192.60. Following the completion of the transaction, the director now owns 9,509 shares of the company’s stock, valued at approximately $1,568,509.55. The disclosure for this purchase can be found here. 18.44% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in CHDN. Comerica Bank raised its position in shares of Churchill Downs, by 3.8% in the first quarter. Comerica Bank now owns 7,532 shares of the company’s stock worth $1,294,000 after buying an additional 275 shares during the period. American Century Companies Inc. raised its position in Churchill Downs, by 11.2% in the first quarter. American Century Companies Inc. now owns 177,778 shares of the company’s stock worth $28,240,000 after buying an additional 17,950 shares during the period. First Trust Advisors LP raised its position in Churchill Downs, by 10.4% in the first quarter. First Trust Advisors LP now owns 7,519 shares of the company’s stock worth $1,194,000 after buying an additional 710 shares during the period. Great West Life Assurance Co. Can raised its position in Churchill Downs, by 3.5% in the first quarter. Great West Life Assurance Co. Can now owns 7,699 shares of the company’s stock worth $1,223,000 after buying an additional 262 shares during the period. Finally, Wells Fargo & Company MN raised its position in Churchill Downs, by 4.3% in the first quarter. Wells Fargo & Company MN now owns 20,418 shares of the company’s stock worth $3,244,000 after buying an additional 835 shares during the period. Institutional investors and hedge funds own 70.03% of the company’s stock.
About Churchill Downs,
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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