Research Analysts Set Expectations for Churchill Downs, Inc.’s Q2 2020 Earnings (CHDN)

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Churchill Downs, Inc. (NASDAQ:CHDN) – Jefferies Financial Group reduced their Q2 2020 EPS estimates for Churchill Downs in a research report issued to clients and investors on Thursday, September 20th, Zacks Investment Research reports. Jefferies Financial Group analyst D. Katz now anticipates that the company will earn $9.49 per share for the quarter, down from their previous estimate of $9.94. Jefferies Financial Group has a “Hold” rating and a $325.00 price objective on the stock.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, August 1st. The company reported $7.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $7.43 by $0.28. Churchill Downs had a return on equity of 27.68% and a net margin of 32.00%. The firm had revenue of $379.40 million for the quarter, compared to analysts’ expectations of $371.30 million. During the same period in the previous year, the firm posted $4.81 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Churchill Downs from a “hold” rating to a “buy” rating and set a $332.00 target price on the stock in a report on Monday, July 2nd. ValuEngine raised Churchill Downs from a “hold” rating to a “buy” rating in a report on Friday. Finally, BidaskClub cut Churchill Downs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Churchill Downs currently has a consensus rating of “Hold” and an average price target of $316.67.

Shares of CHDN stock traded up $4.35 during trading hours on Friday, hitting $280.06. The stock had a trading volume of 110,207 shares, compared to its average volume of 101,097. Churchill Downs has a one year low of $204.25 and a one year high of $314.60. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 47.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.95.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC increased its stake in Churchill Downs by 12.5% during the second quarter. Acadian Asset Management LLC now owns 308,690 shares of the company’s stock worth $91,525,000 after acquiring an additional 34,295 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Churchill Downs by 6,355.0% during the second quarter. Advisors Asset Management Inc. now owns 225,991 shares of the company’s stock worth $1,238,000 after acquiring an additional 222,490 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Churchill Downs by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 207,251 shares of the company’s stock worth $61,449,000 after acquiring an additional 2,427 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Churchill Downs by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 128,462 shares of the company’s stock worth $38,087,000 after acquiring an additional 3,671 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of Churchill Downs by 0.9% during the first quarter. Loomis Sayles & Co. L P now owns 98,862 shares of the company’s stock valued at $24,127,000 after buying an additional 903 shares during the last quarter. 70.72% of the stock is currently owned by institutional investors.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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