Churchill Downs (NASDAQ:CHDN) Posts Earnings Results, Beats Estimates By $997.97 EPS

Key Points

• Churchill Downs reported $999.00 EPS for the quarter, beating analysts' consensus of $1.03 by $997.97; the company posted a return on equity of 43.26% and a net margin of 13.09%.
• Shares fell about 2% to $88.99 on Wednesday, with a market cap of $6.20 billion, a PE ratio of 16.92 and a 52-week range of $80.24–$118.46.
• Analysts remain largely positive (11 Buys, 1 Hold) giving a "Moderate Buy" consensus and a target price of $135.60, while institutional investors own roughly 82.6% of the stock and several funds recently increased holdings.

Churchill Downs (NASDAQ:CHDN - Get Free Report) announced its earnings results on Wednesday. The company reported $999.00 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $997.97, Zacks reports. Churchill Downs had a return on equity of 43.26% and a net margin of 13.09%.

Churchill Downs Stock Down 2.0%

Shares of NASDAQ:CHDN traded down $1.85 on Wednesday, hitting $88.99. 896,048 shares of the company traded hands, compared to its average volume of 930,233. Churchill Downs has a 52 week low of $80.24 and a 52 week high of $118.46. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 5.02. The stock has a 50 day simple moving average of $89.24 and a 200-day simple moving average of $98.80. The company has a market cap of $6.20 billion, a PE ratio of 16.92, a PEG ratio of 1.54 and a beta of 0.65.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citizens Jmp increased their price objective on Churchill Downs from $142.00 to $146.00 and gave the stock a "market outperform" rating in a report on Wednesday, January 14th. Citigroup reiterated an "outperform" rating on shares of Churchill Downs in a report on Wednesday, January 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Churchill Downs in a report on Tuesday. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $130.00 price objective (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Churchill Downs has an average rating of "Moderate Buy" and a consensus target price of $135.60.

Hedge Funds Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Churchill Downs by 0.6% during the fourth quarter. State Street Corp now owns 1,956,295 shares of the company's stock valued at $223,424,000 after acquiring an additional 11,523 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Churchill Downs by 49.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company's stock valued at $133,525,000 after acquiring an additional 452,716 shares in the last quarter. Boston Partners increased its holdings in shares of Churchill Downs by 0.9% during the third quarter. Boston Partners now owns 1,257,725 shares of the company's stock valued at $121,998,000 after acquiring an additional 11,653 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Churchill Downs by 5.4% during the second quarter. Ameriprise Financial Inc. now owns 793,258 shares of the company's stock valued at $80,119,000 after acquiring an additional 40,645 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Churchill Downs by 22,974.8% during the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company's stock valued at $79,352,000 after acquiring an additional 784,591 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.

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