Brokerages predict that Churchill Downs, Inc. (NASDAQ:CHDN) will report $301.28 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Churchill Downs’ earnings, with estimates ranging from $294.10 million to $308.45 million. Churchill Downs posted sales of $221.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 36.1%. The business is expected to announce its next earnings results on Wednesday, October 30th.
On average, analysts expect that Churchill Downs will report full year sales of $1.30 billion for the current year, with estimates ranging from $1.29 billion to $1.32 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.36 billion, with estimates ranging from $1.34 billion to $1.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Churchill Downs.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.01). Churchill Downs had a return on equity of 34.23% and a net margin of 15.76%. The business had revenue of $477.40 million during the quarter, compared to the consensus estimate of $469.85 million. During the same quarter in the previous year, the business posted $7.71 earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year.
In other 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 transaction, the senior vice president now owns 40,494 shares of the company’s stock, valued at approximately $4,750,351.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.05% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Churchill Downs during the 4th quarter worth $28,815,000. Geode Capital Management LLC lifted its position in shares of Churchill Downs by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 150,430 shares of the company’s stock worth $36,695,000 after purchasing an additional 16,314 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Churchill Downs by 196.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $857,000 after purchasing an additional 6,300 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of Churchill Downs by 219.2% during the 1st quarter. Retirement Systems of Alabama now owns 107,847 shares of the company’s stock worth $9,734,000 after purchasing an additional 74,065 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Churchill Downs by 142.4% in the first quarter. Flagship Harbor Advisors LLC now owns 577 shares of the company’s stock valued at $52,000 after acquiring an additional 339 shares during the last quarter. 71.86% of the stock is currently owned by institutional investors.
Shares of CHDN stock traded up $2.55 during trading hours on Thursday, reaching $124.00. The stock had a trading volume of 175,644 shares, compared to its average volume of 274,052. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.13 and a quick ratio of 1.13. Churchill Downs has a twelve month low of $74.58 and a twelve month high of $132.73. The firm has a 50-day simple moving average of $119.00 and a 200-day simple moving average of $102.67. The firm has a market capitalization of $4.96 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.
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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