Churchill Downs, Inc. (CHDN) Expected to Announce Quarterly Sales of $480.28 Million

Brokerages expect Churchill Downs, Inc. (NASDAQ:CHDN) to post $480.28 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Churchill Downs’ earnings. The highest sales estimate is $481.75 million and the lowest is $478.80 million. Churchill Downs reported sales of $379.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.6%. The company is expected to report its next earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Churchill Downs will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.32 billion to $1.33 billion. For the next financial year, analysts forecast that the firm will post sales of $1.39 billion, with estimates ranging from $1.36 billion to $1.42 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Churchill Downs.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.23. The business had revenue of $265.40 million for the quarter, compared to analysts’ expectations of $250.57 million. Churchill Downs had a return on equity of 33.97% and a net margin of 16.81%. The company’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS.

Several research firms have recently weighed in on CHDN. BidaskClub raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Saturday, April 13th. ValuEngine downgraded Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday. Telsey Advisory Group reissued a “market perform” rating and set a $105.00 target price (up previously from $93.00) on shares of Churchill Downs in a research report on Tuesday, April 30th. JPMorgan Chase & Co. set a $105.00 target price on Churchill Downs and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, Jefferies Financial Group set a $106.00 target price on Churchill Downs and gave the company a “buy” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $104.42.

Shares of CHDN opened at $96.00 on Thursday. The company has a market cap of $3.85 billion, a PE ratio of 26.37, a PEG ratio of 1.09 and a beta of 1.21. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.87 and a current ratio of 0.87. Churchill Downs has a 1 year low of $74.58 and a 1 year high of $104.87.

In other Churchill Downs news, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were bought at an average price of $85.22 per share, with a total value of $85,220.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R Alex Rankin acquired 500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $101.83 per share, for a total transaction of $50,915.00. The disclosure for this purchase can be found here. Corporate insiders own 13.05% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in Churchill Downs by 203.0% in the 1st quarter. BlackRock Inc. now owns 4,077,620 shares of the company’s stock valued at $368,046,000 after acquiring an additional 2,731,814 shares during the last quarter. Acadian Asset Management LLC grew its position in Churchill Downs by 154.2% in the 1st quarter. Acadian Asset Management LLC now owns 615,395 shares of the company’s stock valued at $55,547,000 after acquiring an additional 373,260 shares during the last quarter. Northern Trust Corp grew its position in Churchill Downs by 203.2% in the 1st quarter. Northern Trust Corp now owns 582,186 shares of the company’s stock valued at $52,548,000 after acquiring an additional 390,161 shares during the last quarter. Durational Capital Management LP grew its position in Churchill Downs by 103.8% in the 1st quarter. Durational Capital Management LP now owns 523,828 shares of the company’s stock valued at $47,280,000 after acquiring an additional 266,804 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Churchill Downs by 216.9% in the 1st quarter. Geode Capital Management LLC now owns 476,658 shares of the company’s stock valued at $43,022,000 after acquiring an additional 326,228 shares during the last quarter. 29.47% of the stock is currently owned by institutional investors.

Churchill Downs Company Profile

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.

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

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