Zacks: Analysts Anticipate Churchill Downs Incorporated (NASDAQ:CHDN) Will Post Quarterly Sales of $347.54 Million

Equities research analysts expect Churchill Downs Incorporated (NASDAQ:CHDN – Get Rating) to report sales of $347.54 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Churchill Downs’ earnings, with the highest sales estimate coming in at $360.20 million and the lowest estimate coming in at $338.20 million. Churchill Downs posted sales of $324.30 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.2%. The firm is scheduled to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Churchill Downs will report full year sales of $1.73 billion for the current fiscal year, with estimates ranging from $1.66 billion to $1.80 billion. For the next financial year, analysts forecast that the business will report sales of $2.16 billion, with estimates ranging from $1.91 billion to $2.52 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Churchill Downs.

Churchill Downs (NASDAQ:CHDN – Get Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The company reported $1.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.15. Churchill Downs had a return on equity of 92.04% and a net margin of 15.60%. The business had revenue of $364.80 million for the quarter, compared to the consensus estimate of $362.48 million. During the same period last year, the business earned $0.19 EPS. The firm’s revenue was up 31.1% compared to the same quarter last year.

CHDN has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on Churchill Downs from $272.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com initiated coverage on Churchill Downs in a report on Thursday, March 31st. They issued a “hold” rating on the stock. KeyCorp raised their target price on Churchill Downs from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, February 28th. Finally, Zacks Investment Research raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Tuesday, March 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Churchill Downs presently has a consensus rating of “Buy” and an average price target of $272.88.

Shares of CHDN stock opened at $210.01 on Thursday. The stock’s 50 day simple moving average is $221.20 and its 200 day simple moving average is $228.00. The company has a debt-to-equity ratio of 6.39, a quick ratio of 1.27 and a current ratio of 1.27. Churchill Downs has a twelve month low of $175.01 and a twelve month high of $262.20. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 33.07 and a beta of 1.13.

Several large investors have recently made changes to their positions in CHDN. National Bank of Canada FI acquired a new stake in shares of Churchill Downs during the 4th quarter worth approximately $26,000. Quent Capital LLC acquired a new stake in shares of Churchill Downs during the 4th quarter worth approximately $26,000. Dark Forest Capital Management LP acquired a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $28,000. CWM LLC acquired a new stake in shares of Churchill Downs during the 4th quarter worth approximately $28,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $41,000. 72.40% of the stock is currently owned by institutional investors.

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.

See Also