Churchill Downs Stock (NASDAQ:CHDN), Trade Ideas

Churchill Downs

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.

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Churchill Downs, Incorporated - Common Stock

Churchill Downs Inc

Wells Fargo analyst Daniel Politzer upgrades Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) from Equal-Weight to Overweight and raises the price target from $137 to $141.

News

Upgrades

Price Target

Analyst Ratings

Wells Fargo Upgrades Churchill Downs to Overweight, Raises Price Target to $141

JMP Securities analyst Jordan Bender reiterates Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) with a Market Outperform and maintains $150 price target.

Reiteration

JMP Securities Reiterates Market Outperform on Churchill Downs, Maintains $150 Price Target

Ratings for Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) were provided by 5 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $145.4, with a high estimate of $150.00 and a low estimate of $137.00. This current average has decreased by 1.09% from the previous average price target of $147.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1712696424_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of Churchill Downs among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Daniel Politzer</td>
<td>Wells Fargo</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$137.00</td>
<td>-</td>
</tr>
<tr>
<td>Ben Chaiken</td>
<td>Mizuho</td>
<td>Announces</td>
<td>Buy</td>
<td>$142.00</td>
<td>-</td>
</tr>
<tr>
<td>Jordan Bender</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$150.00</td>
<td>-</td>
</tr>
<tr>
<td>Jordan Bender</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$150.00</td>
<td>$148.00</td>
</tr>
<tr>
<td>Jordan Bender</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$148.00</td>
<td>$146.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Churchill Downs. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Churchill Downs compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Churchill Downs's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Churchill Downs's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CHDN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Churchill Downs analyst ratings.</a>
<h2>Discovering Churchill Downs: A Closer Look</h2>
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.
<h3>Churchill Downs: Financial Performance Dissected</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Over the 3 months period, Churchill Downs showcased positive performance, achieving a revenue growth rate of 16.89% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Consumer Discretionary sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 10.26%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 6.46%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Churchill Downs's ROA stands out, surpassing industry averages. With an impressive ROA of 0.84%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Churchill Downs's debt-to-equity ratio stands notably higher than the industry average, reaching 5.41. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>What Are Analyst Ratings?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Key Takeaways From Churchill Downs Analyst Ratings

Wells Fargo analyst Daniel Politzer reiterates Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) with a Equal-Weight and maintains $137 price target.

Wells Fargo Reiterates Equal-Weight on Churchill Downs, Maintains $137 Price Target

Mizuho analyst Ben Chaiken initiates coverage on Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) with a Buy rating and announces Price Target of $142.

Initiation

Mizuho Initiates Coverage On Churchill Downs with Buy Rating, Announces Price Target of $142

In the last three months, 4 analysts have published ratings on Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>), offering a diverse range of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Churchill Downs, revealing an average target of $146.25, a high estimate of $150.00, and a low estimate of $137.00. A decline of 0.51% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1710180026_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The analysis of recent analyst actions sheds light on the perception of Churchill Downs by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jordan Bender</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$150.00</td>
<td>-</td>
</tr>
<tr>
<td>Jordan Bender</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$150.00</td>
<td>$148.00</td>
</tr>
<tr>
<td>Jordan Bender</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Market Outperform</td>
<td>$148.00</td>
<td>$146.00</td>
</tr>
<tr>
<td>Daniel Politzer</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$137.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Churchill Downs. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Churchill Downs compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Churchill Downs's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Churchill Downs's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CHDN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Churchill Downs analyst ratings.</a>
<h2>Get to Know Churchill Downs Better</h2>
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.
<h3>Churchill Downs's Financial Performance</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Churchill Downs's remarkable performance in 3 months is evident. As of 31 December, 2023, the company achieved an impressive revenue growth rate of 16.89%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Consumer Discretionary sector.
Net Margin: Churchill Downs's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 10.26%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Churchill Downs's ROE stands out, surpassing industry averages. With an impressive ROE of 6.46%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Churchill Downs's ROA stands out, surpassing industry averages. With an impressive ROA of 0.84%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: With a high debt-to-equity ratio of 5.41, Churchill Downs faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: Simplified</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Beyond The Numbers: 4 Analysts Discuss Churchill Downs Stock

Churchill Downs Announces Exacta Expansion In New Hampshire

JMP Securities analyst Jordan Bender maintains Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) with a Market Outperform and raises the price target from $148 to $150.

JMP Securities Maintains Market Outperform on Churchill Downs, Raises Price Target to $150

Churchill Downs Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>, "CDI, " or the "Company")))) announced today that the Company plans to open Owensboro Racing &amp; Gaming in the first quarter of 2025 with 600 state-of-the-art historical racing machines ("HRMs"), a retail sportsbook, simulcast wagering, and multiple food and beverage offerings. &nbsp;
Owensboro Racing &amp; Gaming exterior rendering
The new property in eastern Daviess County will be CDI's seventh historical horse racing entertainment venue in the state of Kentucky. Owensboro Racing &amp; Gaming will be located on an approximately 20-acre site at the corner of US Highway 60 and Wrights Landing Road east of the City of Owensboro, Kentucky.
The projected spend for the development of Owensboro Racing &amp; Gaming is $100 million. The property will operate as an annex of Ellis Park Racing &amp; Gaming ("Ellis Park") and will support purse funding for Ellis Park's traditional summer racing meet.
"We are proud to announce this investment in the Kentucky horse racing industry as we celebrate 150 years of the Kentucky Derby," said Bill Carstanjen, CEO of CDI. "In addition to delivering a premier gaming and entertainment experience to Daviess County, this project will build on the success of Ellis Park's racing product and further contribute to a healthy and sustainable horse racing circuit in Kentucky."

Churchill Downs Announces Development Plans For Owensboro Racing & Gaming In Q1 Of 2025 With 600 State-Of-The-Art Historical Racing Machines, A Retail Sportsbook, Simulcast Wagering, And Multiple Food And Beverage Offerings

Churchill Downs Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>, "CDI, " or the "Company")))) announced today that the Company received approval from the Town of Dumfries to open Phase One of The Rose Gaming Resort ("The Rose") with 1,650 historical racing machines ("HRMs"). This number represents an increase of 500 HRMs from what CDI had previously announced. The Rose, located in Northern Virginia, is now scheduled to open by the end of September 2024. &nbsp;
The Rose Gaming Resort exterior rendering
The facility will also open with a 102-room hotel, eight food and beverage options and over 2,540 parking spaces. The total capital investment in the project to now expected to be $460 million, with approximately $160 million remaining to be spent as of December 31, 2023. The Company will provide updated development plans for Phase Two at a later date.
As part of CDI's commitment to the Town of Dumfries, the Company will make a one-time, $3.6 million contribution to the town. CDI will also make a one-time $2.0 million contribution to support the design and development of a new community center, in addition to the public park currently being built on site.
"We are excited to announce that The Rose will open with 1,650 HRMs," said Bill Carstanjen, CEO of CDI. "We are proud to invest nearly half a billion dollars in Northern Virginia and look forward to creating local jobs and a world class gaming destination."
The Rose is estimated to generate $35.5 million in annual tax revenues and result in the development of more than 500 full and part-time jobs.

Churchill Downs Announces The Rose Gaming Resort To Open With 1,650 HRMs By The End Of September 2024; Total Capital Investment In The Project To Now Expected To Be $460M

Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) reported its Q4 earnings results on Wednesday, February 21, 2024 at 04:04 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Churchill Downs beat estimated earnings by 16.22%, reporting an EPS of $0.86 versus an estimate of $0.74.
Revenue was up $81.10 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.01 which was followed by a 0.34% drop in the share price the next day.
Here's a look at Churchill Downs's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.86</td>
<td>2.60</td>
<td>0.90</td>
<td>0.84</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.87</td>
<td>2.24</td>
<td>0.98</td>
<td>0.73</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>568.55M</td>
<td>792.70M</td>
<td>536.58M</td>
<td>473.57M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>572.50M</td>
<td>768.50M</td>
<td>559.50M</td>
<td>480.10M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Churchill Downs <a href="https://www.benzinga.com/quote/CHDN/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Recap: Churchill Downs Q4 Earnings

Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) reported quarterly earnings of $0.86 per share which beat the analyst consensus estimate of $0.74 by 16.22 percent. The company reported quarterly sales of $561.20 million which beat the analyst consensus estimate of $553.68 million by 1.36 percent. This is a 16.89 percent increase over sales of $480.10 million the same period last year.

Earnings Beats

Churchill Downs Q4 2023 Adj EPS $0.86 Beats $0.74 Estimate, Sales $561.20M Beat $553.68M Estimate

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Earnings Scheduled For February 21, 2024

Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-02-21. Here's what investors need to know before the announcement.
Analysts estimate that Churchill Downs will report an earnings per share (EPS) of $0.74. 
Churchill Downs bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.01, which was followed by a 0.34% drop in the share price the next day.
Here's a look at Churchill Downs's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.86</td>
<td>2.60</td>
<td>0.90</td>
<td>0.84</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.87</td>
<td>2.24</td>
<td>0.98</td>
<td>0.73</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.34%</td>
<td>-9.7%</td>
<td>14.07%</td>
<td>0.47%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708441263_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Churchill Downs were trading at $118.98 as of February 19. Over the last 52-week period, shares are down 2.4%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/CHDN/earnings">To track all earnings releases for Churchill Downs visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Churchill Downs Earnings Preview

The Detroit Lions came into the 2023 NFL season with the ninth-best odds to win<a href="https://www.benzinga.com/general/sports-betting/23/08/34126933/2023-nfl-season-super-bowl-lviii-favorite-betting-odds-will-chiefs-win-back-to-back-heres-"> Super Bowl LVIII.</a>
For a team with limited playoff success in recent years and the unfortunate title of one of <a href="https://www.benzinga.com/general/sports-betting/23/09/34282538/four-nfl-teams-have-never-been-to-a-super-bowl-here-are-the-betting-payouts-if-history-is-">four current NFL teams </a>to never make a Super Bowl, the odds were high for the team.
With the Lions one game away from Super Bowl LVIII, here's a look at what comes next.
What Happened: The Lions are one of <a href="https://www.benzinga.com/general/sports-betting/24/01/36720186/super-bowl-lviii-betting-odds-with-remaining-4-teams-chiefs-record-improves-with-taylor-sw">four NFL teams left </a>in the hunt for Super Bowl LVIII and on Sunday could put to rest having its name on the list of teams to never make a Super Bowl.
"You know, technically, I'm not even really supposed to be here right now. So f&#x2A;&#x2A;&#x2A; it. Might as well make the most of it," Eminem raps in "Cinderella Man."
Detroit native Eminem has been at several Lions games and his songs are used in hype videos. The lyrics to "Cinderella Man" still ring true, despite the high expectations at the start of the 2023 NFL season.
"Mediocrity can no longer be allowed to fly. So say bye to the old, H-I to the new."
The Lions face the San Francisco 49ers in the NFC Conference Championship game Sunday. The game, which takes place in San Francisco at 6:30 p.m. airs on Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) owned FOX.
According to data from DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), the Lions are a 7.5 point underdog in the game and pay out +270 on the moneyline. This means a $100 bet on the Lions to win the game would pay out a profit of $270.
The public is cheering for the Lions and also backing them with their betting dollars, which could be bad news for sportsbooks if the Lions can pull off the upset as &#8220;Cinderella Man.&#8221;
BetMGM, which is a joint venture of MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) and Entain, is seeing high volume bet on the Lions. According to BetMGM's John Ewing, 88% of the public <a href="https://twitter.com/johnewing/status/1750684980865651191">bets </a>are on the Lions moneyline for the game and 65% are on the Lions +7 spread for the game.
At <a href="https://twitter.com/DKSportsbook/status/1750896518154858850">DraftKings</a>, 67% of the bets and 70% of the betting handle are on the Lions to win the game at +270.
TwinSpires, which is a unit of Churchill Downs Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>), also has a large amount of bets on the Lions.
"Cinderella teams like Detroit usually end up being a popular bet, especially on moneyline. Lions outright would guarantee a losing Sunday for us," TwinSpires Zach Lucas said, as <a href="https://twitter.com/PatrickE_Vegas/status/1750620764292960560">shared </a>by betting reporter Patrick Everson. &nbsp;
Related Link: <a href="https://www.benzinga.com/general/entertainment/24/01/36728329/11-things-that-didnt-exist-the-last-time-the-detroit-lions-were-in-a-nfc-championship-game-">11 Things That Didn&#8217;t Exist The Last Time The Detroit Lions Were In A NFC Championship Game: PlayStation, Pokemon, Text Messaging, Amazon And More</a>
Why It's Important: One factor working against sportsbooks is the fact that online sports betting is legal in Michigan and not legalized in the state of California, home of the 49ers. This means a large percentage of Michigan bettors could be impacting the overall national betting on the game.
The public outside of Michigan is also getting behind the Lions, according to several maps that have gone viral. One map showed that of the four teams left in contention to win Super Bowl LVIII, the Lions were the favorite of 37 states. Another map showed that every state except California was rooting for the Lions to win the NFC Conference Championship game.
A <a href="https://www.benzinga.com/general/sports-betting/24/01/36767295/who-will-win-super-bowl-lviii-benzinga-readers-chime-in-on-ravens-lions-49ers-and-chiefs-a">poll of Benzinga Twitter users</a> recently showed the Lions ranking second among teams for who would win Super Bowl LVIII at 24% of the vote. The Ravens won the poll at 38.9% with the 49ers and Chiefs third and fourth with 19.6% and 17.5% of the vote respectively.
The Lions tied for the second-best record in the NFL at 12-5 in the 2023 season. The team was also a league best 12-5 against-the-spread during the season, according to data from <a href="https://www.covers.com/sport/football/nfl/statistics/team-betting/2023-2024">Covers</a>.
For Lions players, the time could be now to make it to a first Super Bowl in team history. The opportunity could be perfectly summed up in another Eminem song.
"Look, if you had one shot or one opportunity, to seize everything you ever wanted in one moment. Would you capture it or just let it slip?" – Eminem ("Lose Yourself")
Read Next: <a href="https://www.benzinga.com/general/sports-betting/24/01/36787812/la-chargers-tap-coach-jim-harbaugh-a-look-at-past-nfl-success-impact-on-betting-odds">LA Chargers Tap Coach Jim Harbaugh: A Look At Past NFL Success, Impact On Betting Odds</a>
Photo: Shutterstock

Detroit Lions Vs. San Francisco 49ers: Why Sportsbooks Need 'Cinderella Man' Detroit Lions To Lose

JMP Securities has decided to maintain its Market Outperform rating of Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) and raise its price target from $146.00 to $148.00.
Shares of Churchill Downs are trading up 0.07% over the last 24 hours, at $124.00 per share.
A move to $148.00 would account for a 19.35% increase from the current share price.
<h3>About Churchill Downs</h3>
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 company generates more than half of its revenue from the Gaming segment includes revenue from casino properties and associated racetrack or jai alai facilities which support the casino license as applicable.
<h3>About Analyst Ratings</h3>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

JMP Securities Maintains Market Outperform Rating for Churchill Downs: Here's What You Need To Know

JMP Securities analyst Jordan Bender maintains Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) with a Market Outperform and raises the price target from $146 to $148.

JMP Securities Maintains Market Outperform on Churchill Downs, Raises Price Target to $148

new luxury dining experience, Club SI, ahead of the historic 150th running of the Kentucky Derby on Saturday, May 4, 2024. Originally planned as the 1895 Club, Club SI is scheduled to debut on Opening Night of Derby Week and offer guests a modern, sophisticated race day experience.

Churchill Downs Announces Multi-Year Naming Rights Partnership With Sports Illustrated

Churchill Downs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHDN#NASDAQ">CHDN</a>) has been analyzed by 6 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $142.17, a high estimate of $148.00, and a low estimate of $137.00. Highlighting a 4.79% decrease, the current average has fallen from the previous average price target of $149.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1704470417_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Churchill Downs. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Daniel Politzer</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$137.00</td>
<td>-</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$140.00</td>
<td>$148.00</td>
</tr>
<tr>
<td>Joseph Stauff</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$138.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$148.00</td>
<td>$155.00</td>
</tr>
<tr>
<td>Jordan Bender</td>
<td>JMP Securities</td>
<td>Maintains</td>
<td>Market Outperform</td>
<td>$146.00</td>
<td>-</td>
</tr>
<tr>
<td>Dan Guglielmo</td>
<td>Capital One</td>
<td>Announces</td>
<td>Overweight</td>
<td>$144.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Churchill Downs. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Churchill Downs compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Churchill Downs's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Churchill Downs's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CHDN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Churchill Downs analyst ratings.</a>
<h2>Discovering Churchill Downs: A Closer Look</h2>
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 company generates more than half of its revenue from the Gaming segment includes revenue from casino properties and associated racetrack or jai alai facilities which support the casino license as applicable.
<h3>Churchill Downs: Delving into Financials</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Over the 3 months period, Churchill Downs showcased positive performance, achieving a revenue growth rate of 49.44% as of 30 September, 2023. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Churchill Downs's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 10.66%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Churchill Downs's ROE excels beyond industry benchmarks, reaching 7.0%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Churchill Downs's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.92% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a high debt-to-equity ratio of 5.31, Churchill Downs faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Churchill Downs Stock

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In a report released yesterday, Daniel Politzer from Wells Fargo maintained a Hold rating on Churchill Downs (CHDN – Research Report), with a price...

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In a report released today, Barry Jonas from Truist Financial maintained a Buy rating on Churchill Downs (CHDN – Research Report). The company's sh...

Churchill Downs (CHDN) Gets a Buy from Truist Financial

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Virginia gaming legislation bullish for Churchill Downs - analyst

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Press Releases

Churchill Downs Incorporated Announces SAP as an Official Signature Partner of the Kentucky Derby

Entertainment

Churchill Downs Incorporated Reports 2023 Fourth Quarter and Full Year Results

Travel

Churchill Downs Incorporated Announces The Rose Gaming Resort to Open with 1,650 HRMs by the end of September 2024

Churchill Downs Incorporated Announces Development Plans for Owensboro Racing & Gaming

Churchill Downs Incorporated Announces Exacta Expansion in New Hampshire

EXACTA SYSTEMS® LIVE AT THE BROOK IN SEABROOK, NEW HAMPSHIRE

Churchill Downs Incorporated 2024 First Quarter Financial Results Conference Call Invitation

Churchill Downs Incorporated Opens Terre Haute Casino Resort in Terre Haute, Indiana

Contracts

Churchill Downs Incorporated Closes on Sale of 49% of  United Tote Company to the New York Racing Association, Inc.