Churchill Downs Incorporated (CHDN) to Issue Annual Dividend of $0.41 on January 3rd

Churchill Downs Incorporated (NASDAQ:CHDN) announced an annual dividend on Tuesday, December 3rd,Zacks Dividends reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.409 per share on Friday, January 3rd. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38.

Churchill Downs has increased its dividend payment by an average of 7.1% per year over the last three years and has increased its dividend every year for the last 14 years. Churchill Downs has a dividend payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Churchill Downs to earn $6.93 per share next year, which means the company should continue to be able to cover its $0.41 annual dividend with an expected future payout ratio of 5.9%.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $140.26 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a 50-day moving average price of $139.43 and a 200 day moving average price of $138.27. Churchill Downs has a 52 week low of $111.10 and a 52 week high of $150.21. The company has a market cap of $10.31 billion, a P/E ratio of 25.55, a PEG ratio of 3.95 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. Churchill Downs’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 earnings per share. Research analysts predict that Churchill Downs will post 5.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CHDN shares. Wells Fargo & Company upped their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Truist Financial restated a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Monday, October 14th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Mizuho reduced their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

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.