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

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

Churchill Downs Stock Performance

NASDAQ CHDN traded up $4.25 on Thursday, reaching $138.38. 131,986 shares of the stock were exchanged, compared to its average volume of 424,987. The company’s 50-day simple moving average is $137.70 and its two-hundred day simple moving average is $135.68. Churchill Downs has a one year low of $106.45 and a one year high of $146.64. The firm has a market capitalization of $10.17 billion, a PE ratio of 30.50, a PEG ratio of 2.06 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CHDN. Macquarie upped their price target on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Stifel Nicolaus increased their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group boosted their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and an average price target 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.