Churchill Downs (NASDAQ:CHDN) Releases Earnings Results, Misses Expectations By $0.06 EPS

Churchill Downs (NASDAQ:CHDN) announced its quarterly earnings data 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. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%.

Churchill Downs Stock Performance

Shares of CHDN traded down $2.04 during midday trading on Wednesday, reaching $119.54. 1,030,583 shares of the stock were exchanged, compared to its average volume of 529,812. Churchill Downs has a twelve month low of $111.10 and a twelve month high of $150.21. 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 company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 3.02 and a beta of 0.95. The business’s 50-day moving average price is $128.06 and its 200 day moving average price is $134.89.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were paid a $0.409 dividend. This represents a yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is currently 7.47%.

Analyst Upgrades and Downgrades

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

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.