Zacks: Brokerages Expect Churchill Downs Incorporated (NASDAQ:CHDN) Will Announce Quarterly Sales of $584.06 Million

Equities analysts expect that Churchill Downs Incorporated (NASDAQ:CHDN – Get Rating) will announce sales of $584.06 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Churchill Downs’ earnings, with estimates ranging from $561.70 million to $620.15 million. Churchill Downs reported sales of $515.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.4%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Churchill Downs will report full year sales of $1.74 billion for the current financial year, with estimates ranging from $1.70 billion to $1.80 billion. For the next year, analysts anticipate that the company will post sales of $2.32 billion, with estimates ranging from $2.04 billion to $2.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Churchill Downs.

Churchill Downs (NASDAQ:CHDN – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.05. Churchill Downs had a net margin of 15.58% and a return on equity of 87.26%. The firm had revenue of $364.10 million during the quarter, compared to analysts’ expectations of $345.02 million. During the same quarter in the prior year, the business earned $0.87 EPS.

A number of equities analysts have commented on the stock. KeyCorp boosted their price objective on shares of Churchill Downs from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, February 28th. StockNews.com began coverage on shares of Churchill Downs in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Wells Fargo & Company cut their target price on shares of Churchill Downs from $272.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, April 13th. Finally, Zacks Investment Research upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Tuesday, March 1st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Churchill Downs has a consensus rating of “Buy” and a consensus target price of $272.88.

CHDN stock opened at $204.18 on Wednesday. Churchill Downs has a one year low of $175.01 and a one year high of $262.20. The company has a 50 day moving average price of $206.15 and a two-hundred day moving average price of $217.66. The stock has a market capitalization of $7.76 billion, a P/E ratio of 31.32, a PEG ratio of 1.32 and a beta of 1.13. The company has a debt-to-equity ratio of 6.17, a quick ratio of 1.20 and a current ratio of 1.20.

Hedge funds have recently made changes to their positions in the business. Toroso Investments LLC boosted its holdings in Churchill Downs by 12.1% in the first quarter. Toroso Investments LLC now owns 1,599 shares of the company’s stock worth $355,000 after acquiring an additional 172 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Churchill Downs by 37.7% in the first quarter. BNP Paribas Arbitrage SA now owns 4,485 shares of the company’s stock valued at $995,000 after acquiring an additional 1,229 shares during the period. Virtu Financial LLC purchased a new stake in Churchill Downs in the first quarter worth about $289,000. Advisors Asset Management Inc. increased its position in Churchill Downs by 7.9% in the first quarter. Advisors Asset Management Inc. now owns 13,311 shares of the company’s stock worth $2,952,000 after buying an additional 969 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Churchill Downs during the first quarter worth about $227,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Churchill Downs Company Profile (Get Rating)

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. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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