Churchill Downs (NASDAQ:CHDN) Posts Earnings Results, Beats Estimates By $0.01 EPS

Churchill Downs (NASDAQ:CHDN) posted its quarterly earnings results on Wednesday. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01, Briefing.com reports. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year.

Churchill Downs Trading Up 3.2 %

CHDN stock traded up $4.25 during trading on Thursday, hitting $138.38. 131,986 shares of the company traded hands, compared to its average volume of 424,987. The company has a 50-day moving average of $137.70 and a 200-day moving average of $135.68. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $146.64. The firm has a market capitalization of $10.17 billion, a PE ratio of 30.50, a P/E/G ratio of 2.06 and a beta of 0.97.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHDN. Macquarie increased their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Truist Financial reiterated a “buy” rating and issued a $166.00 price objective (up from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average price target of $161.00.

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.