Churchill Downs (NASDAQ:CHDN) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Churchill Downs (NASDAQ:CHDN) released its quarterly earnings results 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 44.76% and a net margin of 15.61%. 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 traded up $0.80 during trading on Friday, reaching $119.85. The company had a trading volume of 159,621 shares, compared to its average volume of 531,997. The company has a fifty day moving average of $127.31 and a two-hundred day moving average of $134.67. The stock has a market capitalization of $8.81 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.96 and a beta of 0.95. 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 company also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.22%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho dropped their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

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.