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

Churchill Downs (NASDAQ:CHDN) released its quarterly earnings results on Wednesday. The company reported $1.13 earnings per share for the quarter, topping 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 business had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. During the same period last year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year.

Churchill Downs Stock Performance

NASDAQ:CHDN traded up $6.97 during trading hours on Thursday, reaching $130.36. 626,233 shares of the company’s stock were exchanged, compared to its average volume of 378,333. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $150.45. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 8.60 and a beta of 1.03. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34. The company has a 50-day moving average of $119.55 and a 200 day moving average of $120.56.

Wall Street Analysts Forecast Growth

CHDN has been the topic of a number of research reports. Mizuho initiated coverage on Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 price objective on the stock. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price target on shares of Churchill Downs in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.