Wall Street analysts predict that Churchill Downs, Inc. (NASDAQ:CHDN) will report sales of $257.93 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Churchill Downs’ earnings. The highest sales estimate is $266.25 million and the lowest is $249.60 million. Churchill Downs reported sales of $219.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 17.8%. The firm is scheduled to issue its next earnings report on Wednesday, February 26th.
According to Zacks, analysts expect that Churchill Downs will report full year sales of $1.31 billion for the current year, with estimates ranging from $1.30 billion to $1.32 billion. For the next year, analysts anticipate that the company will report sales of $1.37 billion, with estimates ranging from $1.36 billion to $1.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Churchill Downs.
Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $306.30 million for the quarter, compared to analyst estimates of $299.27 million. Churchill Downs had a return on equity of 33.71% and a net margin of 11.43%. The company’s quarterly revenue was up 38.4% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share.
NASDAQ:CHDN traded up $0.86 during mid-day trading on Friday, reaching $134.41. 266,177 shares of the stock were exchanged, compared to its average volume of 271,623. The business has a fifty day moving average price of $129.43 and a 200 day moving average price of $121.58. The firm has a market capitalization of $5.38 billion, a PE ratio of 36.93, a PEG ratio of 1.63 and a beta of 1.22. Churchill Downs has a 1-year low of $74.58 and a 1-year high of $135.85. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.67.
The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a dividend of $0.581 per share. This is a positive change from Churchill Downs’s previous annual dividend of $0.54. This represents a yield of 0.45%. The ex-dividend date is Thursday, December 5th. Churchill Downs’s payout ratio is presently 15.93%.
In related news, Director Karole Lloyd purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were purchased at an average price of $123.16 per share, with a total value of $123,160.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 13.05% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Capital Management Inc. ADV purchased a new position in Churchill Downs in the 3rd quarter worth about $27,000. Macquarie Group Ltd. purchased a new position in Churchill Downs in the 2nd quarter worth about $58,000. Tower Research Capital LLC TRC purchased a new position in Churchill Downs in the 2nd quarter worth about $62,000. Marshall Wace North America L.P. increased its stake in Churchill Downs by 200.0% in the 1st quarter. Marshall Wace North America L.P. now owns 780 shares of the company’s stock worth $70,000 after purchasing an additional 520 shares in the last quarter. Finally, AdvisorNet Financial Inc purchased a new position in Churchill Downs in the 3rd quarter worth about $74,000. 72.22% of the stock is currently owned by hedge funds and other 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, 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.
Recommended Story: Average Daily Trade Volume – ADTV
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.