Churchill Downs (NASDAQ:CHDN) Announces Quarterly Earnings Results, Misses Estimates 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 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 Trading Down 1.7 %

Shares of NASDAQ CHDN traded down $2.04 during mid-day trading on Wednesday, hitting $119.54. The company’s stock had a trading volume of 1,030,583 shares, compared to its average volume of 529,805. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 3.02 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. Churchill Downs has a one year low of $111.10 and a one year high of $150.21. The company’s fifty day simple moving average is $128.06 and its 200-day simple moving average is $134.89.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.409 dividend. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 7.47%.

Analysts Set New Price Targets

CHDN has been the subject of a number of recent research reports. Truist Financial restated a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Wells Fargo & Company dropped 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 note on Monday, February 10th. Mizuho dropped their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and a consensus 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.