According to Zacks, “Churchill Downs Inc. is a racing company that primarily conducts pari-mutuel wagering on live Thoroughbred, Standardbred and Quarter Horse horse racing and simulcast signals of races. Additionally, the company offers racing services through our other business interests. “
Other research analysts also recently issued research reports about the stock. Imperial Capital reissued an outperform rating and set a $165.00 price objective (up previously from $145.00) on shares of Churchill Downs, in a report on Friday, October 14th. Hilliard Lyons downgraded shares of Churchill Downs, from a buy rating to a neutral rating in a report on Friday, December 9th. J P Morgan Chase & Co began coverage on shares of Churchill Downs, in a report on Thursday, September 22nd. They set a neutral rating and a $160.00 price objective for the company. Finally, Telsey Advisory Group dropped their price objective on shares of Churchill Downs, from $176.00 to $172.00 and set an outperform rating for the company in a report on Monday, October 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $161.83.
Churchill Downs, (NASDAQ:CHDN) traded down 1.03% during mid-day trading on Tuesday, hitting $144.00. The company had a trading volume of 70,892 shares. The stock has a 50 day moving average price of $152.64 and a 200-day moving average price of $142.90. The stock has a market capitalization of $2.36 billion, a PE ratio of 27.65 and a beta of 0.74. Churchill Downs, has a 1-year low of $118.76 and a 1-year high of $157.15.
Churchill Downs, (NASDAQ:CHDN) last issued its earnings results on Thursday, October 27th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.95 by $0.43. The firm earned $303.40 million during the quarter, compared to the consensus estimate of $301.86 million. Churchill Downs, had a return on equity of 13.60% and a net margin of 6.82%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. On average, analysts forecast that Churchill Downs, will post $5.56 earnings per share for the current year.
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The firm also recently announced an annual dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 2nd were given a dividend of $1.32 per share. This represents a dividend yield of 0.97%. This is a boost from Churchill Downs,’s previous annual dividend of $1.15. The ex-dividend date was Wednesday, November 30th. Churchill Downs,’s dividend payout ratio is currently 25.29%.
In related news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $155.07, for a total value of $775,350.00. Following the sale, the director now directly owns 164,194 shares of the company’s stock, valued at approximately $25,461,563.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard L. Duchossois sold 137,141 shares of the stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $148.75, for a total transaction of $20,399,723.75. Following the completion of the sale, the director now directly owns 7,208 shares in the company, valued at $1,072,190. The disclosure for this sale can be found here. Insiders own 19.05% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Churchill Downs, by 2.6% in the second quarter. Vanguard Group Inc. now owns 974,597 shares of the company’s stock worth $123,151,000 after buying an additional 24,806 shares during the period. BlackRock Fund Advisors raised its stake in Churchill Downs, by 7.7% in the third quarter. BlackRock Fund Advisors now owns 688,015 shares of the company’s stock worth $100,691,000 after buying an additional 49,244 shares during the period. State Street Corp raised its stake in Churchill Downs, by 75.4% in the second quarter. State Street Corp now owns 404,048 shares of the company’s stock worth $51,054,000 after buying an additional 173,700 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Churchill Downs, by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 371,102 shares of the company’s stock worth $54,311,000 after buying an additional 1,691 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Churchill Downs, by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 220,436 shares of the company’s stock worth $32,261,000 after buying an additional 5,497 shares during the period. 69.95% of the stock is currently owned by institutional investors.
About Churchill Downs,
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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