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

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

Churchill Downs Stock Up 4.0 %

CHDN stock traded up $5.42 during midday trading on Thursday, hitting $139.55. The company’s stock had a trading volume of 158,716 shares, compared to its average volume of 425,117. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market capitalization of $10.26 billion, a P/E ratio of 30.50, a PEG ratio of 2.06 and a beta of 0.97. The company’s fifty day moving average price is $137.70 and its 200 day moving average price is $135.68. Churchill Downs has a twelve month low of $106.45 and a twelve month high of $146.64.

Analyst Ratings Changes

CHDN has been the subject of several research analyst reports. Macquarie boosted their price objective 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. Wells Fargo & Company upped their price target on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. 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 research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $161.00.

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.