Churchill Downs (NASDAQ:CHDN) Announces Earnings Results

Churchill Downs (NASDAQ:CHDN) announced its quarterly earnings results on Wednesday. The company reported $2.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18, Zacks reports. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $890.70 million during the quarter, compared to the consensus estimate of $858.59 million. During the same period in the previous year, the company posted $2.24 earnings per share. Churchill Downs’s revenue for the quarter was up 15.9% on a year-over-year basis.

Churchill Downs Price Performance

NASDAQ CHDN traded up $2.28 during mid-day trading on Thursday, hitting $139.53. The stock had a trading volume of 661,923 shares, compared to its average volume of 444,037. The firm’s 50 day moving average is $137.26 and its 200 day moving average is $127.91. Churchill Downs has a twelve month low of $106.45 and a twelve month high of $146.64. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.13 and a beta of 0.97.

Insider Activity at Churchill Downs

In related news, Director Paul C. Varga bought 3,800 shares of the company’s stock in a transaction on Monday, April 29th. The stock was bought at an average cost of $130.22 per share, for a total transaction of $494,836.00. Following the acquisition, the director now directly owns 28,902 shares in the company, valued at $3,763,618.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CHDN. JMP Securities upped their target price on Churchill Downs from $156.00 to $158.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 17th. Mizuho upped their target price on Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Company upped their target price on Churchill Downs from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus upped their target price on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $151.11.

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.