Is Churchill Downs Incorporated [CHDN] on the road to rising earnings?

Earnings from Churchill Downs Incorporated [CHDN] are scheduled on April 21, 2021, after the market closes. It is expected that the company will report strong earnings for the quarter ending Mar 2021.


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CHDN Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $0.56 per share on revenue of $287.45M. Taking a look at the future, the company is projected to report revenue of $475.77M at an earnings per share of $2.49 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 19.40% in revenue and 59.74% in earnings per share for the company.

CHDN Stock Earnings Forecast For The Current Year

For the full financial year, Churchill Downs Incorporated [NASDAQ:CHDN] is forecasted to generate revenue of $1.5B. The figure is about $450.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $5.31 in 2021, which is $4.48 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 539.80% this year, 59.90% next year, and 34.20% annually over the next five years. With regard to sales, forecasts suggest an incline of 42.00% in current fiscal year and 19.40% over following year.

CHDN Stock Price Performance

At recent check today, Churchill Downs Incorporated [NASDAQ:CHDN] finished up 0.96% at $212.99. The stock’s day high price was $216.91, and its lowest was $208.255. Its price fall -2.94% in the last five days. Since the beginning of the year, Churchill Downs Incorporated’s shares are up nearly 8.30%. However, the share price is -17.55% below its one year high. The top price reached by the shares of the company was $258.32 on 03/11/21, while the 52-week low came on 01/27/21, when the shares were $182.00. In the past year, shares of the company have risen 125.72%. At 50 days, the moving average achieved is $227.77 while at 200 days, the moving average is $188.37. There were 0.25 million shares traded in the last session, up from 0.24 million in the previous session.

Churchill Downs Incorporated [NASDAQ:CHDN] Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 7.61 PS value ratio is reported for the last one year of reported earnings. This is above the average return 2.62 for the industry, which means CHDN offers an unattractive investment opportunity than its competitors do.

CHDN Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 212.85 level, and the violation of this level will cause a further drop to 207.17 level. At the upper end, 224.48 remains a key resistance. As the stock increases, it may find resistance at 220.70. In the 14-day chart, the Relative Strength Index standing at 39.01 suggests a technical neutral stance while the MACD standing at -8.02 indicates price will decrease in the next trading period. Stochastic %K at 10.33% suggests buying the stock while Percent R indicator at 86.37% suggests bearish price movement.

How much is the short interest in Churchill Downs Incorporated?

There have been a drop in short interest in the Churchill Downs Incorporated Financial stock, with short interest down by -0.18 million shares to 1.26 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 1.08 million shares. This 14.29% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 3.68% of the overall float in the stock, while the stock’s days to cover moved to 4.62.

How do analysts view Churchill Downs Incorporated?

In regard to the share price forecast for Churchill Downs Incorporated stock, the analysts, as surveyed by FactSet, forecast the price to reach $250.00 in the next twelve months, representing almost an 14.8% growth from its recent price of $212.99. Among Churchill Downs Incorporated stock projections, $275.00 is the highest analyst target for the stock, while $233.00 is the lowest. Despite this, 4 analysts who share their consensus rating for CHDN in 2021 agree that the stock is an Overweight. The latest rating change took place on 3/01/21, when KeyBanc Ratings launched coverage of the stock at “Overweight” and assigned a price target of $250.0.

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