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

Churchill Downs (NASDAQ:CHDN) released its quarterly earnings data on Wednesday. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.35, Briefing.com reports. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The firm had revenue of $590.90 million during the quarter, compared to the consensus estimate of $565.41 million. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis.

Churchill Downs Stock Up 5.6 %

CHDN traded up $6.97 during mid-day trading on Thursday, reaching $130.36. 626,233 shares of the stock were exchanged, compared to its average volume of 378,333. The stock has a market capitalization of $9.61 billion, a PE 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. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53. The company has a 50 day moving average price of $119.55 and a two-hundred day moving average price of $120.56.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CHDN shares. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $137.00 to $141.00 in a report on Monday, April 15th. JMP Securities restated a “market outperform” rating and issued a $150.00 target price on shares of Churchill Downs in a report on Wednesday, April 10th. Finally, Mizuho assumed coverage on Churchill Downs in a report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price target for the company. One analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.13.

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; and casino gaming.