$395.80 Million in Sales Expected for Churchill Downs Incorporated (NASDAQ:CHDN) This Quarter

Brokerages expect Churchill Downs Incorporated (NASDAQ:CHDN) to report $395.80 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Churchill Downs’ earnings, with estimates ranging from $391.40 million to $400.20 million. Churchill Downs posted sales of $337.80 million during the same quarter last year, which would indicate a positive year over year growth rate of 17.2%. The company is scheduled to issue its next quarterly earnings report on Wednesday, October 27th.

On average, analysts expect that Churchill Downs will report full-year sales of $1.60 billion for the current fiscal year, with estimates ranging from $1.59 billion to $1.60 billion. For the next year, analysts expect that the firm will post sales of $1.81 billion, with estimates ranging from $1.81 billion to $1.82 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Churchill Downs.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Tuesday, July 27th. The company reported $2.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.56 by $0.40. The firm had revenue of $515.10 million during the quarter, compared to analysts’ expectations of $472.15 million. Churchill Downs had a return on equity of 67.11% and a net margin of 14.06%.

Several analysts have weighed in on the company. Macquarie assumed coverage on Churchill Downs in a report on Friday, June 18th. They issued an “outperform” rating and a $254.00 target price on the stock. Jefferies Financial Group upped their target price on Churchill Downs from $244.00 to $254.00 and gave the company a “buy” rating in a report on Friday, July 30th. They noted that the move was a valuation call. Zacks Investment Research lowered Churchill Downs from a “buy” rating to a “hold” rating in a report on Tuesday, August 3rd. Wells Fargo & Company started coverage on Churchill Downs in a research note on Tuesday. They set an “overweight” rating on the stock. Finally, TheStreet raised Churchill Downs from a “c” rating to a “b” rating in a research note on Tuesday, August 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $229.83.

Churchill Downs stock traded up $0.16 during trading hours on Tuesday, hitting $219.62. The stock had a trading volume of 236,650 shares, compared to its average volume of 270,897. The company has a debt-to-equity ratio of 6.18, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 42.40 and a beta of 1.36. Churchill Downs has a 1-year low of $147.06 and a 1-year high of $258.32. The stock’s fifty day moving average is $196.67 and its two-hundred day moving average is $207.31.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its holdings in shares of Churchill Downs by 1,850.0% in the 1st quarter. CWM LLC now owns 117 shares of the company’s stock worth $27,000 after purchasing an additional 111 shares during the period. FORA Capital LLC purchased a new position in shares of Churchill Downs in the 2nd quarter worth about $40,000. Sowell Financial Services LLC purchased a new position in shares of Churchill Downs in the 1st quarter worth about $65,000. Capital Analysts LLC purchased a new position in shares of Churchill Downs in the 1st quarter worth about $68,000. Finally, Marshall Wace North America L.P. raised its holdings in shares of Churchill Downs by 200.0% in the 1st quarter. Marshall Wace North America L.P. now owns 780 shares of the company’s stock worth $70,000 after purchasing an additional 520 shares during the period. Hedge funds and other institutional investors own 71.05% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs, Inc operates as a provider of pari-mutuel horseracing, online account wagering on horseracing and casino gaming. It operates through the following business segments: Racing, Casino, Online Wagering, Corporate, and Other Investments. The Racing segment includes Churchill Downs Racetrack, Arlington Park Racecourse, Calder Race Course, and Fair Grounds Race Course.

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

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