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

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

Churchill Downs Stock Up 4.5 %

NASDAQ CHDN opened at $140.14 on Friday. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $146.64. The stock has a market capitalization of $10.30 billion, a PE ratio of 31.21, a PEG ratio of 2.06 and a beta of 0.97. 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 business’s 50-day moving average is $137.75 and its 200 day moving average is $135.71.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CHDN shares. Macquarie upped their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Company upped their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $155.00 in a report on Monday, August 12th. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs 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.