Churchill Downs (NASDAQ:CHDN) Announces Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Churchill Downs (NASDAQ:CHDN) announced its earnings results on Wednesday. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.35, Briefing.com reports. The business had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. Churchill Downs’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS.

Churchill Downs Stock Up 5.7 %

Shares of CHDN traded up $7.02 during trading hours on Thursday, hitting $130.41. The stock had a trading volume of 590,702 shares, compared to its average volume of 377,967. The company has a debt-to-equity ratio of 5.34, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a 50 day simple moving average of $119.55 and a 200-day simple moving average of $120.56. The firm has a market capitalization of $9.61 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 8.60 and a beta of 1.03. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $150.45.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Mizuho assumed coverage on Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 target price for the company. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of Churchill Downs in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell 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 $143.13.

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; and casino gaming.