Churchill Downs, Incorporated (NASDAQ:CHDN) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Several other equities analysts have also recently commented on CHDN. Zacks Investment Research raised shares of Churchill Downs, from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Imperial Capital raised their price target on shares of Churchill Downs, from $169.00 to $184.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $171.75.
Churchill Downs, (NASDAQ:CHDN) opened at 183.25 on Wednesday. The stock’s 50 day moving average price is $179.81 and its 200-day moving average price is $161.97. The firm has a market capitalization of $2.99 billion, a P/E ratio of 27.26 and a beta of 0.88. Churchill Downs, has a 12 month low of $129.00 and a 12 month high of $186.05.
Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 26th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.07. Churchill Downs, had a net margin of 8.66% and a return on equity of 14.14%. The business had revenue of $279.50 million during the quarter, compared to analysts’ expectations of $283.23 million. During the same period in the prior year, the business earned $0.16 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts forecast that Churchill Downs, will post $6.43 earnings per share for the current year.
Churchill Downs, announced that its board has initiated a stock buyback program on Tuesday, April 25th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to repurchase up to 99% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other news, Director R Alex Rankin acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average cost of $164.17 per share, with a total value of $164,170.00. Following the transaction, the director now owns 11,214 shares in the company, valued at $1,841,002.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard L. Duchossois acquired 4,548 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were purchased at an average cost of $164.95 per share, with a total value of $750,192.60. Following the completion of the transaction, the director now owns 9,509 shares in the company, 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 insiders.
Several large investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in Churchill Downs, by 96.6% in the first quarter. LS Investment Advisors LLC now owns 743 shares of the company’s stock valued at $118,000 after buying an additional 365 shares during the period. Van ECK Associates Corp boosted its stake in Churchill Downs, by 6.3% in the first quarter. Van ECK Associates Corp now owns 1,588 shares of the company’s stock valued at $252,000 after buying an additional 94 shares during the period. Profund Advisors LLC boosted its stake in Churchill Downs, by 3.9% in the first quarter. Profund Advisors LLC now owns 1,602 shares of the company’s stock valued at $254,000 after buying an additional 60 shares during the period. Numeric Investors LLC purchased a new stake in Churchill Downs, during the fourth quarter valued at about $256,000. Finally, US Bancorp DE boosted its stake in Churchill Downs, by 19.0% in the second quarter. US Bancorp DE now owns 1,960 shares of the company’s stock valued at $359,000 after buying an additional 313 shares during the period. 69.09% of the stock is owned by institutional investors and hedge funds.
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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