Churchill Downs, Incorporated (CHDN) Increases Dividend to $1.52 Per Share
Churchill Downs, Incorporated (NASDAQ:CHDN) announced an annual dividend on Friday, October 27th, Wall Street Journal reports. Investors of record on Friday, December 1st will be given a dividend of 1.52 per share on Friday, January 5th. This represents a yield of 0.73%. The ex-dividend date is Thursday, November 30th. This is an increase from Churchill Downs,’s previous annual dividend of $1.32.
Churchill Downs, (NASDAQ:CHDN) traded up 1.81% during midday trading on Friday, reaching $208.35. 136,965 shares of the company were exchanged. Churchill Downs, has a 52 week low of $131.70 and a 52 week high of $211.58. The firm has a market capitalization of $3.35 billion, a PE ratio of 28.47 and a beta of 0.86. The company has a 50-day moving average of $204.72 and a 200 day moving average of $185.36.
Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.30. The company had revenue of $451.90 million during the quarter, compared to the consensus estimate of $439.33 million. Churchill Downs, had a return on equity of 15.83% and a net margin of 9.22%. Churchill Downs,’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $4.11 earnings per share. Equities analysts predict that Churchill Downs, will post $6.75 earnings per share for the current year.
In other news, Director Robert L. Evans sold 5,000 shares of Churchill Downs, stock in a transaction on Friday, September 8th. The stock was sold at an average price of $198.25, for a total transaction of $991,250.00. Following the completion of the sale, the director now directly owns 90,878 shares in the company, valued at $18,016,563.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.44% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on CHDN. Telsey Advisory Group raised their price target on Churchill Downs, from $196.00 to $209.00 and gave the stock a “market perform” rating in a research report on Thursday, October 12th. Zacks Investment Research downgraded Churchill Downs, from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Finally, Imperial Capital lifted their target price on Churchill Downs, from $184.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $210.67.
About Churchill Downs,
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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