Q1 2018 EPS Estimates for Churchill Downs, Inc. (CHDN) Lowered by Analyst
Churchill Downs, Inc. (NASDAQ:CHDN) – Research analysts at Jefferies Group dropped their Q1 2018 EPS estimates for Churchill Downs in a research report issued on Friday. Jefferies Group analyst D. Katz now forecasts that the company will post earnings per share of $1.48 for the quarter, down from their prior forecast of $1.57. Jefferies Group currently has a “Hold” rating and a $261.00 target price on the stock. Jefferies Group also issued estimates for Churchill Downs’ Q2 2018 earnings at $7.30 EPS, FY2018 earnings at $12.98 EPS and FY2019 earnings at $14.24 EPS.
A number of other equities research analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Churchill Downs from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 10th. Zacks Investment Research upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating and set a $283.00 target price for the company in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $240.25.
Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.44). The firm had revenue of $179.00 million for the quarter, compared to analyst estimates of $255.33 million. Churchill Downs had a return on equity of 16.80% and a net margin of 11.47%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 EPS.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC acquired a new stake in Churchill Downs in the 4th quarter valued at about $3,323,000. Millennium Management LLC acquired a new stake in Churchill Downs in the 4th quarter valued at about $2,943,000. Teachers Advisors LLC increased its position in Churchill Downs by 3.5% in the 4th quarter. Teachers Advisors LLC now owns 114,171 shares of the company’s stock valued at $26,568,000 after acquiring an additional 3,842 shares in the last quarter. Raymond James & Associates increased its position in Churchill Downs by 81.6% in the 4th quarter. Raymond James & Associates now owns 2,403 shares of the company’s stock valued at $559,000 after acquiring an additional 1,080 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in Churchill Downs by 11.5% in the 4th quarter. Guggenheim Capital LLC now owns 50,421 shares of the company’s stock valued at $11,734,000 after acquiring an additional 5,197 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
In other Churchill Downs news, Director Robert L. Evans sold 32,866 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $265.00, for a total value of $8,709,490.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.44% of the company’s stock.
Churchill Downs announced that its board has authorized a stock repurchase plan on Wednesday, November 29th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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