Churchill Downs (NASDAQ:CHDN) Releases Earnings Results, Beats Estimates By $0.35 EPS

Churchill Downs (NASDAQ:CHDN - Get Free Report) released its earnings results on Wednesday. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.35, Briefing.com reports. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. The firm had revenue of $590.90 million during the quarter, compared to analyst estimates of $565.41 million. During the same period last year, the business posted $0.98 earnings per share. Churchill Downs's revenue was up 5.6% compared to the same quarter last year.

Churchill Downs Stock Performance

Churchill Downs stock traded up $5.84 during mid-day trading on Thursday, reaching $129.23. 1,214,604 shares of the company were exchanged, compared to its average volume of 386,123. The firm's 50-day simple moving average is $119.60 and its two-hundred day simple moving average is $120.58. Churchill Downs has a twelve month low of $106.45 and a twelve month high of $150.45. The firm has a market cap of $9.52 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 8.60 and a beta of 1.03. The company has a debt-to-equity ratio of 5.34, a quick ratio of 0.53 and a current ratio of 0.53.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CHDN. JMP Securities reissued a "market outperform" rating and set a $150.00 target price on shares of Churchill Downs in a research report on Wednesday, April 10th. Mizuho initiated coverage on shares of Churchill Downs in a research note on Tuesday, March 26th. They issued a "buy" rating and a $142.00 price target on the stock. Finally, Wells Fargo & Company upgraded shares of Churchill Downs from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $137.00 to $141.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $143.13.

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; and casino gaming.