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

Churchill Downs (NASDAQ:CHDN) posted its earnings results 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 44.99% and a net margin of 13.72%. The business 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 business earned $0.98 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis.

Churchill Downs Stock Performance

CHDN opened at $129.44 on Friday. 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 5.88, a current ratio of 0.50 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $119.79 and its 200 day simple moving average is $120.64. The stock has a market cap of $9.51 billion, a P/E ratio of 28.83, a P/E/G ratio of 9.00 and a beta of 1.03.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday. Mizuho boosted their target price on Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a report on Friday. Truist Financial boosted their target price on Churchill Downs from $140.00 to $145.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $137.00 to $141.00 in a report on Monday, April 15th. Finally, Stifel Nicolaus boosted their price target on Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and an average target price of $144.50.

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.