$306.50 Million in Sales Expected for Churchill Downs, Incorporated (CHDN) This Quarter

Equities research analysts predict that Churchill Downs, Incorporated (NASDAQ:CHDN) will post sales of $306.50 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Churchill Downs,’s earnings, with the lowest sales estimate coming in at $305.50 million and the highest estimate coming in at $307.50 million. Churchill Downs, reported sales of $303.40 million in the same quarter last year, which indicates a positive year over year growth rate of 1%. The business is expected to announce its next earnings report after the market closes on Wednesday, November 1st.

On average, analysts expect that Churchill Downs, will report full year sales of $306.50 million for the current year. For the next fiscal year, analysts anticipate that the business will post sales of $1.37 billion per share, with estimates ranging from $1.35 billion to $1.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Churchill Downs,.

Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.51 by $0.30. The business had revenue of $451.90 million for the quarter, compared to the consensus estimate of $439.33 million. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.11 EPS.

A number of research firms have weighed in on CHDN. Telsey Advisory Group increased their target price on Churchill Downs, from $196.00 to $209.00 and gave the stock a “market perform” rating in a research note on Thursday, October 12th. Zacks Investment Research lowered Churchill Downs, from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Imperial Capital reiterated a “buy” rating on shares of Churchill Downs, in a research note on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $210.67.

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In other news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $195.00, for a total transaction of $975,000.00. Following the transaction, the director now owns 95,878 shares in the company, valued at $18,696,210. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 18.44% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Citigroup Inc. increased its stake in shares of Churchill Downs, by 352.2% during the second quarter. Citigroup Inc. now owns 719 shares of the company’s stock valued at $132,000 after buying an additional 560 shares during the period. Bruderman Asset Management LLC purchased a new position in shares of Churchill Downs, during the second quarter valued at $161,000. LS Investment Advisors LLC increased its stake in shares of Churchill Downs, by 19.8% during the second quarter. LS Investment Advisors LLC now owns 890 shares of the company’s stock valued at $163,000 after buying an additional 147 shares during the period. Strs Ohio increased its stake in shares of Churchill Downs, by 150.0% during the second quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $183,000 after buying an additional 600 shares during the period. Finally, Sawgrass Asset Management LLC purchased a new position in shares of Churchill Downs, during the second quarter valued at $203,000. Hedge funds and other institutional investors own 73.85% of the company’s stock.

Churchill Downs, (NASDAQ CHDN) opened at 208.55 on Friday. The stock has a market capitalization of $3.36 billion, a P/E ratio of 28.50 and a beta of 0.86. The firm’s 50-day moving average is $203.61 and its 200-day moving average is $183.70. Churchill Downs, has a 12 month low of $131.70 and a 12 month high of $211.58.

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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On average, analysts expect that Churchill Downs, will report full year sales of $306.50 million for the current year. For the next fiscal year, analysts anticipate that the business will post sales of $1.37 billion per share, with estimates ranging from $1.35 billion to $1.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Churchill Downs,.

Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $4.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.51 by $0.30. The business had revenue of $451.90 million for the quarter, compared to the consensus estimate of $439.33 million. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.11 EPS.

A number of research firms have weighed in on CHDN. Telsey Advisory Group increased their target price on Churchill Downs, from $196.00 to $209.00 and gave the stock a “market perform” rating in a research note on Thursday, October 12th. Zacks Investment Research lowered Churchill Downs, from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Imperial Capital reiterated a “buy” rating on shares of Churchill Downs, in a research note on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $210.67.

WARNING: This story was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://ledgergazette.com/2017/10/20/306-50-million-in-sales-expected-for-churchill-downs-incorporated-chdn-this-quarter.html.

In other news, Director Robert L. Evans sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $195.00, for a total transaction of $975,000.00. Following the transaction, the director now owns 95,878 shares in the company, valued at $18,696,210. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 18.44% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Citigroup Inc. increased its stake in shares of Churchill Downs, by 352.2% during the second quarter. Citigroup Inc. now owns 719 shares of the company’s stock valued at $132,000 after buying an additional 560 shares during the period. Bruderman Asset Management LLC purchased a new position in shares of Churchill Downs, during the second quarter valued at $161,000. LS Investment Advisors LLC increased its stake in shares of Churchill Downs, by 19.8% during the second quarter. LS Investment Advisors LLC now owns 890 shares of the company’s stock valued at $163,000 after buying an additional 147 shares during the period. Strs Ohio increased its stake in shares of Churchill Downs, by 150.0% during the second quarter. Strs Ohio now owns 1,000 shares of the company’s stock valued at $183,000 after buying an additional 600 shares during the period. Finally, Sawgrass Asset Management LLC purchased a new position in shares of Churchill Downs, during the second quarter valued at $203,000. Hedge funds and other institutional investors own 73.85% of the company’s stock.

Churchill Downs, (NASDAQ CHDN) opened at 208.55 on Friday. The stock has a market capitalization of $3.36 billion, a P/E ratio of 28.50 and a beta of 0.86. The firm’s 50-day moving average is $203.61 and its 200-day moving average is $183.70. Churchill Downs, has a 12 month low of $131.70 and a 12 month high of $211.58.

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

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