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

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

Churchill Downs Trading Up 4.5 %

NASDAQ CHDN opened at $140.14 on Friday. The firm’s fifty day moving average price is $137.75 and its 200 day moving average price is $135.71. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $146.64. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.409 per share. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s payout ratio is currently 8.46%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group boosted their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Stifel Nicolaus raised their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JMP Securities reiterated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Monday, October 14th. Finally, StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.00.

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.