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Churchill Downs (CHDN) to Post Q1 Earnings: What's in Store?

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Zacks Equity Research
·3 min read
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Churchill Downs Incorporated CHDN is scheduled to report first-quarter fiscal 2021 results on Apr 21. In the last reported quarter, the company reported a negative earnings surprise of 29.6%.

Q1 Estimates

The Zacks Consensus Estimate for first-quarter earnings is pegged at 56 cents, compared with an earnings of 5 cents reported in the prior-year quarter.

For revenues, the consensus mark stands at nearly $290.6 million, suggesting growth of 14.9% from the year-ago quarter.

Factors at Note

The company’s first-quarter performance is likely to have benefited from robust online wagering. Moreover, robust TwinSpires Horse Racing business and Newport Racing & Gaming facility are likely to get reflected in the to-be-reported quarter’s top line. However, dismal gaming revenues might have might have weighed on its performance.

The Zacks Consensus Estimate for revenues at Gaming is pegged at $142 million, suggesting year-over-year decline of 4.1%. However, the Zacks Consensus Estimate for revenues at Churchill Downs, Online Wagering and Other revenues is pegged at $28.9 million, $86 million and $36.5 million, suggesting year-over-year growth of 23%, 28.4% and 151.7%, respectively.

Boyd Gaming Corporation Price and EPS Surprise

Boyd Gaming Corporation Price and EPS Surprise
Boyd Gaming Corporation Price and EPS Surprise

Boyd Gaming Corporation price-eps-surprise | Boyd Gaming Corporation Quote

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Churchill Downs this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that's not the case here.

Earnings ESP: Churchill Downs has an Earnings ESP of -16.07%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company has a Zacks Rank #5 (Strong Sell).

Stocks Poised to Beat Earnings Estimates

Here are some stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:

Boyd Gaming Corporation BYD has a Zacks Rank #3 and an Earnings ESP of +4.65%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Las Vegas Sands Corp. LVS has a Zacks Rank #3 and an Earnings ESP of +3.57%.

MGM Resorts International MGM has a Zacks Rank #3 and an Earnings ESP of +1.16%.

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Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report

MGM Resorts International (MGM) : Free Stock Analysis Report

Churchill Downs, Incorporated (CHDN) : Free Stock Analysis Report

Boyd Gaming Corporation (BYD) : Free Stock Analysis Report

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