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

Churchill Downs (NASDAQ:CHDN) posted its quarterly earnings results on Wednesday. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06), Zacks reports. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%.

Churchill Downs Trading Down 1.7 %

Churchill Downs stock traded down $2.04 during midday trading on Wednesday, reaching $119.54. 1,030,583 shares of the stock traded hands, compared to its average volume of 529,812. The firm has a market cap of $8.79 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 3.02 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a 50-day simple moving average of $128.06 and a two-hundred day simple moving average of $134.89. Churchill Downs has a 12-month low of $111.10 and a 12-month high of $150.21.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a $0.409 dividend. 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 payout ratio is currently 7.47%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CHDN shares. Wells Fargo & Company lowered their target price on Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Mizuho lowered their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Truist Financial reaffirmed a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus target price 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.