Churchill Downs, Inc. (NASDAQ:CHDN) Increases Dividend to $0.58 Per Share

Churchill Downs, Inc. (NASDAQ:CHDN) declared an annual dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.581 per share on Friday, January 3rd. This represents a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from Churchill Downs’s previous annual dividend of $0.54.

Shares of CHDN stock traded down $0.85 during midday trading on Tuesday, hitting $128.82. 5,493 shares of the company were exchanged, compared to its average volume of 287,494. The firm has a market capitalization of $5.21 billion, a P/E ratio of 35.39, a PEG ratio of 1.61 and a beta of 1.22. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50 day moving average price is $129.28 and its two-hundred day moving average price is $119.85. Churchill Downs has a 52 week low of $74.58 and a 52 week high of $135.32.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The firm had revenue of $306.30 million for the quarter, compared to analysts’ expectations of $299.27 million. Churchill Downs had a net margin of 11.43% and a return on equity of 33.71%. The business’s revenue was up 38.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Analysts expect that Churchill Downs will post 4.03 EPS for the current year.

In other Churchill Downs news, Director Karole Lloyd purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were acquired at an average cost of $123.16 per share, for a total transaction of $123,160.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.05% of the company’s stock.

Several equities analysts have recently commented on CHDN shares. BidaskClub raised Churchill Downs from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Zacks Investment Research lowered Churchill Downs from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 24th. Finally, ValuEngine cut Churchill Downs from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $132.20.

About Churchill Downs

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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Dividend History for Churchill Downs (NASDAQ:CHDN)

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