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

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

Churchill Downs Stock Down 1.7 %

Shares of NASDAQ CHDN traded down $2.04 during midday trading on Wednesday, reaching $119.54. The company’s stock had a trading volume of 1,030,583 shares, compared to its average volume of 529,805. 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 has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The stock 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 stock has a 50 day simple moving average of $128.06 and a 200-day simple moving average of $134.89.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a $0.409 dividend. 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. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is 7.47%.

Wall Street Analysts Forecast Growth

CHDN has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. JMP Securities restated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a report 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 report on Wednesday. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial restated a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.13.

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; casino gaming; and Terre Haute Casino Resort.