Churchill Downs (NASDAQ:CHDN) Releases Earnings Results, Beats Estimates By $0.35 EPS

Churchill Downs (NASDAQ:CHDN) issued its quarterly earnings data on Wednesday. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.35, Briefing.com reports. The firm had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.33%. Churchill Downs’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS.

Churchill Downs Stock Up 4.7 %

Shares of Churchill Downs stock opened at $129.23 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34. Churchill Downs has a 52-week low of $106.45 and a 52-week high of $150.45. The company has a market capitalization of $9.52 billion, a P/E ratio of 28.78, a P/E/G ratio of 8.59 and a beta of 1.03. The company has a 50 day moving average of $119.60 and a 200 day moving average of $120.58.

Analysts Set New Price Targets

CHDN has been the topic of several recent analyst reports. Mizuho initiated coverage on shares of Churchill Downs in a report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price objective on the stock. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Finally, JMP Securities restated a “market outperform” rating and set a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.13.

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; and casino gaming.