Churchill Downs (NASDAQ:CHDN) Announces Quarterly Earnings Results

Churchill Downs (NASDAQ:CHDN) issued its quarterly earnings results on Wednesday. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06), Zacks reports. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $124.93 on Thursday. The firm has a market capitalization of $9.18 billion, a P/E ratio of 22.78, a P/E/G ratio of 3.01 and a beta of 0.95. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The stock’s 50-day simple moving average is $127.68 and its two-hundred day simple moving average is $134.78. Churchill Downs has a twelve month low of $111.10 and a twelve month high of $150.21.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were paid a $0.409 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. Churchill Downs’s dividend payout ratio is currently 7.47%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CHDN shares. Mizuho dropped their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company decreased their price objective on Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $160.13.

Churchill Downs Company Profile

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.