Churchill Downs (NASDAQ:CHDN) Issues Quarterly Earnings Results

Churchill Downs (NASDAQ:CHDN) issued its quarterly earnings results on Wednesday. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06), Zacks reports. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%.

Churchill Downs Stock Performance

Shares of CHDN traded up $0.80 on Friday, reaching $119.85. The company’s stock had a trading volume of 159,621 shares, compared to its average volume of 531,997. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a market capitalization of $8.81 billion, a P/E ratio of 21.08, a PEG ratio of 2.96 and a beta of 0.95. The stock’s 50 day simple moving average is $127.31 and its two-hundred day simple moving average is $134.67. Churchill Downs has a 12-month low of $111.10 and a 12-month high of $150.21.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a dividend of $0.409 per share. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is presently 7.22%.

Analyst Ratings Changes

CHDN has been the subject of several research reports. Stifel Nicolaus decreased their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company decreased their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday. Mizuho reduced their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, JMP Securities restated 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 analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $159.38.

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.