Churchill Downs Incorporated (CHDN) Expected to Post Quarterly Sales of $178.00 Million

Wall Street brokerages predict that Churchill Downs Incorporated (NASDAQ:CHDN) will report sales of $178.00 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Churchill Downs’ earnings. The highest sales estimate is $178.89 million and the lowest is $177.10 million. Churchill Downs posted sales of $279.50 million during the same quarter last year, which would indicate a negative year over year growth rate of 36.3%. The company is scheduled to report its next earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that Churchill Downs will report full-year sales of $978.14 million for the current fiscal year, with estimates ranging from $940.01 million to $1.03 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.10 billion per share, with estimates ranging from $992.45 million to $1.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Churchill Downs.

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Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.44). The company had revenue of $179.00 million for the quarter, compared to analyst estimates of $255.33 million. Churchill Downs had a return on equity of 16.80% and a net margin of 11.47%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS.

A number of research firms have issued reports on CHDN. BidaskClub upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Zacks Investment Research downgraded shares of Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Telsey Advisory Group began coverage on shares of Churchill Downs in a research report on Tuesday, March 13th. They set a “market perform” rating and a $265.00 target price on the stock. Finally, Jefferies Group began coverage on shares of Churchill Downs in a research report on Thursday, January 18th. They set a “hold” rating and a $261.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Churchill Downs presently has an average rating of “Hold” and a consensus price target of $254.25.

In related news, Director Robert L. Evans sold 32,866 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $265.00, for a total value of $8,709,490.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel P. Harrington sold 35,000 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $271.20, for a total transaction of $9,492,000.00. Following the completion of the sale, the director now owns 15,444 shares in the company, valued at $4,188,412.80. The disclosure for this sale can be found here. Insiders purchased a total of 11,805 shares of company stock worth $3,002,583 over the last quarter. 13.78% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in CHDN. Arrowstreet Capital Limited Partnership raised its position in shares of Churchill Downs by 324.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 140,798 shares of the company’s stock valued at $32,764,000 after acquiring an additional 107,645 shares during the period. Acadian Asset Management LLC increased its stake in Churchill Downs by 89.7% during the 4th quarter. Acadian Asset Management LLC now owns 213,914 shares of the company’s stock worth $49,775,000 after purchasing an additional 101,124 shares in the last quarter. Citadel Advisors LLC increased its stake in Churchill Downs by 110.3% during the 4th quarter. Citadel Advisors LLC now owns 159,592 shares of the company’s stock worth $37,137,000 after purchasing an additional 83,688 shares in the last quarter. RWC Asset Management LLP bought a new stake in Churchill Downs during the 4th quarter worth approximately $9,308,000. Finally, Allianz Asset Management GmbH increased its stake in Churchill Downs by 639.5% during the 4th quarter. Allianz Asset Management GmbH now owns 46,205 shares of the company’s stock worth $10,752,000 after purchasing an additional 39,957 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

NASDAQ CHDN traded up $7.95 on Friday, hitting $242.95. 33,461 shares of the company were exchanged, compared to its average volume of 135,021. The company has a market cap of $3,169.76, a price-to-earnings ratio of 41.28, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.76. Churchill Downs has a 1-year low of $154.75 and a 1-year high of $279.45.

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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, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 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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