Churchill Downs
CHDN

$136.68

1.36%

Market Cap: $10B

About: Churchill Downs Inc is a gaming entertainment, online wagering, and racing company. It operates through three business segments: Live and Historical Racing, TwinSpires, and Gaming. The Live and Historical Racing segment includes live and historical pari-mutuel racing. The TwinSpires segment includes the revenue and expenses for online horse racing and the online and retail sports betting and iGaming wagering business. The Gaming segment includes revenue and expenses for the casino properties and associated racetracks that support the casino license. The Gaming segment generates revenue and expenses from slot machines, table games, video lottery terminals, video poker, HRMs, ancillary food and beverage services, hotel services, commission on pari-mutuel wagering, and racing events.

Employees: 7,970

Consumer Discretionary Racing, Including Track Operation

0

Funds holding %

of 6,686 funds

0

Analysts bullish %

of 12 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

95% more first-time investments, than exits

New positions opened: 78 | Existing positions closed: 40

13% more capital invested

Capital invested by funds: $7.01B [Q1] → $7.94B (+$932M) [Q2]

10% more funds holding

Funds holding: 376 [Q1] → 414 (+38) [Q2]

6% more repeat investments, than reductions

Existing positions increased: 139 | Existing positions reduced: 131

0.56% more ownership

Funds ownership: 76.85% [Q1] → 77.42% (+0.56%) [Q2]

40% less call options, than puts

Call options by funds: $16.3M | Put options by funds: $27.1M

50% less funds holding in top 10

Funds holding in top 10: 8 [Q1] → 4 (-4) [Q2]

See Fund Rankings

Research analyst outlook

12 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$150

10%

upside

Avg. target

$160

17%

upside

High target

$166

21%

upside

12 analyst ratings

12 positive

100%

0 neutral

0%

0 negative

0%

B of A Securities Shaun Kelley 50% 1-year accuracy 6 / 12 met price target	13%upside $155	Buy Upgraded	12 Aug 2024
Macquarie Chad Beynon 58% 1-year accuracy 15 / 26 met price target	19%upside $162	Outperform Maintained	26 Jul 2024
JMP Securities Jordan Bender 55% 1-year accuracy 27 / 49 met price target	21%upside $166	Market Outperform Maintained	26 Jul 2024
Mizuho Ben Chaiken 49% 1-year accuracy 19 / 39 met price target	15%upside $157	Outperform Maintained	26 Jul 2024
Stifel Jeffrey Stantial 41% 1-year accuracy 9 / 22 met price target	20%upside $164	Buy Maintained	26 Jul 2024

See Analyst Rankings

Financial journalist opinion

Churchill Downs: Still Under The Radar, Still An Excellent Business

Churchill Downs Incorporated shows strong long-term performance, with improved business metrics and growth opportunities, making the stock attractive now. Q2 results exceeded expectations, with revenue and EPS ahead of estimates, and margins improving due to high-margin HRM machines and acquisitions. Management's disciplined capital allocation has led to high returns on equity and significant shareholder returns through dividends and share repurchases.

Churchill Downs: Still Under The Radar, Still An Excellent Business

Churchill Downs Analyst Bullish About Kentucky Derby, New Virginia Gaming Resort: 'Sustainable Double-Digit Growth'

Horse racetrack owner Churchill Downs Inc CHDN gets an upgrade from an analyst ahead of the opening of a new gaming resort in Northern Virginia and its ownership of the Kentucky Derby race.

Churchill Downs Analyst Bullish About Kentucky Derby, New Virginia Gaming Resort: 'Sustainable Double-Digit Growth'

Churchill Downs Incorporated (CHDN) Q2 2024 Earnings Call Transcript

Churchill Downs Incorporated (NASDAQ:CHDN ) Q2 2024 Results Conference Call July 25, 2024 9:00 AM ET Company Participants Sam Ullrich - Vice President, Investor Relations Bill Carstanjen - Chief Executive Officer Marcia Dall - Chief Financial Officer Bill Mudd - President and Chief Operating Officer Brad Blackwell - General Counsel Conference Call Participants Barry Jonas - Truist Securities David Katz - Jefferies Dan Politzer - Wells Fargo Joe Stauff - SIG Jeff Stantial - Stifel Jordan Bender - JMP Securities Chad Beynon - Macquarie Ben Chaiken - Mizuho Daniel Guglielmo - Capital One Securities Shaun Kelley - Bank of America Operator Good day, ladies and gentlemen, and welcome to the Churchill Downs Incorporated 2024 Second Quarter Earnings Conference call. At this time, all participants are in a listen-only mode.

Churchill Downs Incorporated (CHDN) Q2 2024 Earnings Call Transcript

Zacks Investment Research

Churchill Downs (CHDN) Reports Q2 Earnings: What Key Metrics Have to Say

While the top- and bottom-line numbers for Churchill Downs (CHDN) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Churchill Downs (CHDN) Reports Q2 Earnings: What Key Metrics Have to Say

Zacks Investment Research

Churchill Downs (CHDN) Q2 Earnings and Revenues Beat Estimates

Churchill Downs (CHDN) came out with quarterly earnings of $2.89 per share, beating the Zacks Consensus Estimate of $2.71 per share. This compares to earnings of $2.24 per share a year ago.

Churchill Downs (CHDN) Q2 Earnings and Revenues Beat Estimates

Churchill Downs Incorporated Reveals Grandstand Club and Pavilion Renovation Plan for Churchill Downs Racetrack

$80-$90 Million Project will Debut for the 151st Kentucky Derby in May 2025 $80-$90 Million Project will Debut for the 151st Kentucky Derby in May 2025

Churchill Downs Incorporated Reveals Grandstand Club and Pavilion Renovation Plan for Churchill Downs Racetrack

Churchill Downs Incorporated Announces Robert L. Fealy Retires From Company's Board of Directors

LOUISVILLE, Ky., July 24, 2024 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “Company”) announced today that Robert L. Fealy retired from CDI's Board of Directors on July 23, 2024.

Churchill Downs Incorporated Announces Robert L. Fealy Retires From Company's Board of Directors

Churchill Downs Incorporated Reports 2024 Second Quarter Results

LOUISVILLE, Ky., July 24, 2024 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the “Company”, “CDI”, “we”) today reported business results for the second quarter ended June 30, 2024.

Churchill Downs Incorporated Reports 2024 Second Quarter Results

Zacks Investment Research

Churchill Downs (CHDN) Earnings Expected to Grow: Should You Buy?

Churchill Downs (CHDN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Churchill Downs (CHDN) Earnings Expected to Grow: Should You Buy?

Zacks Investment Research

Will Churchill Downs (CHDN) Beat Estimates Again in Its Next Earnings Report?

Churchill Downs (CHDN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Will Churchill Downs (CHDN) Beat Estimates Again in Its Next Earnings Report?

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