Churchill Downs (NASDAQ:CHDN) Posts Earnings Results, Beats Expectations By $0.01 EPS

Churchill Downs (NASDAQ:CHDN) posted its quarterly earnings results on Wednesday. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01, Briefing.com reports. The firm had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share.

Churchill Downs Trading Up 4.5 %

CHDN opened at $140.14 on Friday. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $146.64. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.65. The business has a fifty day simple moving average of $137.75 and a 200-day simple moving average of $135.71. The firm has a market cap of $10.30 billion, a P/E ratio of 31.21, a P/E/G ratio of 2.06 and a beta of 0.97.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a $0.409 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. This represents a yield of 0.29%. Churchill Downs’s payout ratio is presently 8.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Macquarie boosted their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Company raised their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group lifted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Stifel Nicolaus increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.00.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.