Zacks: Analysts Anticipate Churchill Downs, Inc. (CHDN) Will Announce Quarterly Sales of $440.43 Million
Wall Street brokerages forecast that Churchill Downs, Inc. (NASDAQ:CHDN) will post $440.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Churchill Downs’ earnings, with estimates ranging from $435.4 million to $443.29 million. Churchill Downs posted sales of $438.5 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.4%. The company is scheduled to report its next earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Churchill Downs will report full year sales of $440.43 million for the current year, with estimates ranging from $1.29 billion to $1.31 billion. For the next year, analysts expect that the firm will report sales of $1.32 billion per share, with estimates ranging from $1.3 billion to $1.34 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Churchill Downs.
Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, April 26th. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.07. The business had revenue of $279.50 million for the quarter, compared to analyst estimates of $283.23 million. Churchill Downs had a net margin of 6.82% and a return on equity of 13.60%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS.
Several research analysts have recently commented on the stock. Telsey Advisory Group lowered shares of Churchill Downs from an “outperform” rating to a “market perform” rating and set a $174.00 price target on the stock. in a research note on Friday, April 28th. Imperial Capital increased their price target on shares of Churchill Downs from $169.00 to $184.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Finally, Zacks Investment Research upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $171.75.
Churchill Downs (NASDAQ:CHDN) traded up 0.371% during trading on Friday, hitting $168.875. 32,283 shares of the company traded hands. Churchill Downs has a one year low of $118.76 and a one year high of $173.50. The firm has a market cap of $2.75 billion, a P/E ratio of 25.123 and a beta of 0.71. The firm has a 50 day moving average of $165.69 and a 200 day moving average of $154.20.
In other news, Director Robert L. Evans sold 5,000 shares of Churchill Downs stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $155.16, for a total transaction of $775,800.00. Following the completion of the sale, the director now owns 118,895 shares in the company, valued at approximately $18,447,748.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Alex Rankin purchased 1,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $164.17 per share, with a total value of $164,170.00. Following the transaction, the director now owns 11,214 shares in the company, valued at $1,841,002.38. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 21,475 shares of company stock valued at $3,367,159. 19.05% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. LS Investment Advisors LLC boosted its stake in shares of Churchill Downs by 96.6% in the first quarter. LS Investment Advisors LLC now owns 743 shares of the company’s stock valued at $118,000 after buying an additional 365 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Churchill Downs by 24.3% in the fourth quarter. Van ECK Associates Corp now owns 1,494 shares of the company’s stock valued at $225,000 after buying an additional 292 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Churchill Downs by 3.9% in the first quarter. Profund Advisors LLC now owns 1,602 shares of the company’s stock valued at $254,000 after buying an additional 60 shares in the last quarter. Numeric Investors LLC acquired a new stake in shares of Churchill Downs during the fourth quarter valued at approximately $256,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Churchill Downs by 7.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,110 shares of the company’s stock valued at $317,000 after buying an additional 150 shares in the last quarter. Institutional investors own 70.52% of the company’s stock.
Churchill Downs Company Profile
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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