Churchill Downs (NASDAQ:CHDN) Issues Earnings Results, Beats Expectations By $0.01 EPS

Churchill Downs (NASDAQ:CHDN - Get Free Report) posted its earnings results on Wednesday. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.01, Briefing.com reports. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The firm had revenue of $628.50 million for the quarter, compared to analysts' expectations of $627.90 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company's revenue was up 9.8% on a year-over-year basis.

Churchill Downs Trading Up 4.5 %

Shares of NASDAQ:CHDN traded up $6.01 during midday trading on Thursday, reaching $140.14. The company's stock had a trading volume of 907,633 shares, compared to its average volume of 428,753. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two week high of $146.64. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a 50 day moving average price of $137.75 and a two-hundred day moving average price of $135.71. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 2.06 and a beta of 0.97.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CHDN shares. Wells Fargo & Company boosted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Stifel Nicolaus upped their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Macquarie lifted their target price on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Mizuho decreased their price target on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Truist Financial reiterated a "buy" rating and set a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $161.00.

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.