Churchill Downs (NASDAQ:CHDN) Announces Quarterly Earnings Results

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

Churchill Downs Stock Up 4.5 %

Churchill Downs stock opened at $124.93 on Thursday. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 3.01 and a beta of 0.95. The stock has a fifty day simple moving average of $127.68 and a two-hundred day simple moving average of $134.78. Churchill Downs has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35.

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 issued a $0.409 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.47%.

Analyst Upgrades and Downgrades

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

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.