Churchill Downs (NASDAQ:CHDN – Get Free Report) announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th, RTT News reports. The company plans to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
Churchill Downs Stock Performance
Churchill Downs stock opened at $110.50 on Friday. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs has a 1-year low of $105.18 and a 1-year high of $150.21. The firm has a market capitalization of $8.13 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The company’s 50-day moving average is $121.42 and its 200 day moving average is $132.34.
Churchill Downs (NASDAQ:CHDN – Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. Research analysts forecast that Churchill Downs will post 6.92 EPS for the current year.
Analysts Set New Price Targets
Read Our Latest Research Report on Churchill Downs
About Churchill Downs
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.
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