Gabelli Weighs in on Churchill Downs, Incorporated’s FY2017 Earnings (CHDN)

Churchill Downs, Incorporated (NASDAQ:CHDN) – Equities research analysts at Gabelli issued their FY2017 earnings estimates for shares of Churchill Downs in a report issued on Thursday. Gabelli analyst A. Trivison forecasts that the company will post earnings of $7.05 per share for the year. Gabelli also issued estimates for Churchill Downs’ FY2018 earnings at $6.40 EPS, FY2019 earnings at $7.60 EPS, FY2020 earnings at $8.45 EPS and FY2021 earnings at $8.75 EPS.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, November 1st. The company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.18. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $308.43 million. Churchill Downs had a net margin of 9.75% and a return on equity of 17.48%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share.

Several other research firms also recently commented on CHDN. BidaskClub raised shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research raised shares of Churchill Downs from a “hold” rating to a “buy” rating and set a $239.00 target price for the company in a research report on Wednesday, November 8th. Finally, Telsey Advisory Group boosted their target price on shares of Churchill Downs from $196.00 to $209.00 and gave the stock a “market perform” rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $218.67.

Shares of Churchill Downs (NASDAQ CHDN) opened at $231.55 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market cap of $3,631.19, a P/E ratio of 33.58 and a beta of 0.92. Churchill Downs has a 1 year low of $141.00 and a 1 year high of $237.82.

The company also recently disclosed an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be issued a dividend of $1.52 per share. This is an increase from Churchill Downs’s previous annual dividend of $1.32. This represents a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 30th. Churchill Downs’s dividend payout ratio is currently 19.17%.

Churchill Downs declared that its board has approved a stock buyback plan on Wednesday, November 29th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $198.25, for a total transaction of $991,250.00. Following the completion of the sale, the director now directly owns 90,878 shares of the company’s stock, valued at approximately $18,016,563.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 18.44% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CHDN. LS Investment Advisors LLC raised its stake in Churchill Downs by 19.8% during the 2nd quarter. LS Investment Advisors LLC now owns 890 shares of the company’s stock valued at $163,000 after purchasing an additional 147 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Churchill Downs by 3.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 3,200 shares of the company’s stock valued at $587,000 after purchasing an additional 100 shares during the last quarter. State Treasurer State of Michigan raised its stake in Churchill Downs by 2.0% during the 2nd quarter. State Treasurer State of Michigan now owns 5,100 shares of the company’s stock valued at $935,000 after purchasing an additional 100 shares during the last quarter. US Bancorp DE raised its stake in Churchill Downs by 19.0% during the 2nd quarter. US Bancorp DE now owns 1,960 shares of the company’s stock valued at $359,000 after purchasing an additional 313 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Churchill Downs by 322.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,384 shares of the company’s stock valued at $1,537,000 after purchasing an additional 6,400 shares during the last quarter. 72.50% of the stock is owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for Churchill Downs (NASDAQ:CHDN)

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