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

Churchill Downs (NASDAQ:CHDN - Get Free Report) released its earnings results 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. The firm had revenue of $624.20 million during the quarter, compared to analysts' expectations of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 44.76%.

Churchill Downs Trading Down 1.8 %

CHDN traded down $2.13 on Friday, reaching $116.92. 1,199,253 shares of the company's stock were exchanged, compared to its average volume of 563,063. The company's 50 day moving average is $126.93 and its 200-day moving average is $134.58. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.96 and a beta of 0.95. Churchill Downs has a twelve month low of $111.10 and a twelve month high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.409 per share. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio is currently 7.04%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a report on Friday. JMP Securities restated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho reduced 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, Wells Fargo & Company reduced 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.