In its upcoming report, Churchill Downs (CHDN) is predicted by Wall Street analysts to post quarterly earnings of $1.08 per share, reflecting a decline of 4.4% compared to the same period last year. Revenues are forecasted to be $647.14 million, representing a year-over-year increase of 9.5%.

The consensus EPS estimate for the quarter has been revised 0.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

In light of this perspective, let's dive into the average estimates of certain Churchill Downs metrics that are commonly tracked and forecasted by Wall Street analysts.

Analysts' assessment points toward 'Revenue- Live and Historical Racing' reaching $278.47 million. The estimate indicates a change of +13.6% from the prior-year quarter.

The average prediction of analysts places 'Revenue- Gaming' at $268.62 million. The estimate indicates a year-over-year change of +12.3%.

The consensus among analysts is that 'Adjusted EBITDA- Gaming' will reach $123.70 million. Compared to the current estimate, the company reported $122.80 million in the same quarter of the previous year.

The combined assessment of analysts suggests that 'Adjusted EBITDA- Live and Historical Racing' will likely reach $108.17 million. The estimate is in contrast to the year-ago figure of $100.80 million.

View all Key Company Metrics for Churchill Downs here>>>

Shares of Churchill Downs have experienced a change of -9.6% in the past month compared to the -5.6% move of the Zacks S&P 500 composite. With a Zacks Rank #5 (Strong Sell), CHDN is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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

This article originally published on Zacks Investment Research (zacks.com).

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