Churchill Downs (NASDAQ:CHDN) Releases Earnings Results, Beats Estimates By $0.35 EPS

Churchill Downs (NASDAQ:CHDN) issued its quarterly earnings data on Wednesday. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.35, Briefing.com reports. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The firm had revenue of $590.90 million for the quarter, compared to the consensus estimate of $565.41 million. During the same quarter in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year.

Churchill Downs Stock Performance

NASDAQ CHDN traded up $6.95 on Thursday, hitting $130.34. 267,504 shares of the company’s stock traded hands, compared to its average volume of 374,003. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $150.45. The firm’s 50-day moving average price is $119.55 and its two-hundred day moving average price is $120.56. The firm has a market capitalization of $9.60 billion, a PE ratio of 24.25, a P/E/G ratio of 8.60 and a beta of 1.03.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CHDN shares. Mizuho started coverage on shares of Churchill Downs in a research report on Tuesday, March 26th. They issued a “buy” rating and a $142.00 price objective on the stock. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $150.00 target price on shares of Churchill Downs in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.13.

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; and casino gaming.