- Churchill Downs (CHDN, Financial) posts an 8.7% rise in Q1 revenues, aligning with Wall Street's anticipations.
- Earnings per share outperformed expectations by 3.5%, though they fell below last year's figures.
- Analysts project a significant upside for CHDN, with an average target price suggesting a 65.36% increase from current levels.
Churchill Downs Inc. (NASDAQ: CHDN) delivered a solid start to the year with first-quarter revenues climbing by 8.7% to $642.6 million, precisely matching analysts' forecasts. Despite this positive revenue trajectory, the company's earnings per share (EPS) stood at $1.07, surpassing expectations by 3.5% yet falling short of the previous year's $1.13. This earnings report sent CHDN shares down by 2%, closing at $102.99.
Wall Street Analysts' Perspective
The outlook from Wall Street remains optimistic for Churchill Downs. According to 12 analysts' one-year price targets, the average target price is set at $146.95, with projections ranging from a high estimate of $172.00 to a low of $125.00. This average price target suggests a notable upside potential of 65.36% from the current stock price of $88.87. Investors can explore more comprehensive data on the Churchill Downs Inc (CHDN, Financial) Forecast page.
Current Market Recommendations
Brokerage firms maintain a favorable stance on Churchill Downs with an average recommendation rating of 1.8, placing the stock in the "Outperform" category. The rating system runs from 1 (Strong Buy) to 5 (Sell), indicating broad confidence among analysts in the stock's future performance.
Further supporting this optimism, GuruFocus estimates the GF Value for CHDN to be $173.32 in one year, which signifies a potential upside of 95.03% from the current price of $88.8696. The GF Value represents the fair value at which the stock should ideally be trading, calculated based on its historical trading multiples, past business growth, and future performance projections. For more insights, visit the Churchill Downs Inc (CHDN, Financial) Summary page.
