Churchill Downs (CHDN) to Release Quarterly Earnings on Wednesday

Churchill Downs (NASDAQ:CHDN) is projected to release its earnings data after the market closes on Wednesday, April 23rd. Analysts expect the company to announce earnings of $1.16 per share and revenue of $649.68 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The firm had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, analysts expect Churchill Downs to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $102.63 on Wednesday. The business’s 50-day simple moving average is $112.12 and its 200-day simple moving average is $127.11. The firm has a market capitalization of $7.54 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.95 and a beta of 0.86. Churchill Downs has a 1-year low of $96.67 and a 1-year high of $150.21. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55.

Churchill Downs announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Churchill Downs Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs’s dividend payout ratio is presently 7.04%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday, April 8th. Barclays started coverage on shares of Churchill Downs in a research note on Friday, April 11th. They issued an “overweight” rating and a $125.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Stifel Nicolaus dropped their target price on Churchill Downs from $161.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.44.

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; casino gaming; and Terre Haute Casino Resort.