Churchill Downs Incorporated Announces Quarterly Dividend of $0.06 (NASDAQ:CHDN)

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.06 per share on Tuesday, April 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.21%.

Churchill Downs has raised its dividend payment by an average of 7.0% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Churchill Downs has a dividend payout ratio of 5.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Churchill Downs to earn $7.88 per share next year, which means the company should continue to be able to cover its $0.41 annual dividend with an expected future payout ratio of 5.2%.

Churchill Downs Stock Up 0.1 %

Shares of CHDN stock traded up $0.09 on Friday, hitting $112.10. 925,264 shares of the stock were exchanged, compared to its average volume of 470,940. The firm has a market capitalization of $8.24 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. Churchill Downs has a fifty-two week low of $105.18 and a fifty-two week high of $150.21. The business has a 50-day moving average of $119.19 and a 200 day moving average of $131.23. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Equities analysts anticipate that Churchill Downs will post 6.92 EPS for the current year.

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Churchill Downs announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

CHDN has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday. Mizuho reduced their target price on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus dropped their price target on Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Finally, JMP Securities restated a "market outperform" rating and set a $166.00 target price 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, Churchill Downs currently has an average rating of "Moderate Buy" and an average target price of $159.38.

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.