Churchill Downs, Incorporated (CHDN) Announces Earnings Results
Churchill Downs, Incorporated (NASDAQ:CHDN) issued its quarterly earnings results on Wednesday. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.18, Briefing.com reports. Churchill Downs, had a net margin of 9.22% and a return on equity of 15.83%. The business had revenue of $314.80 million for the quarter, compared to analysts’ expectations of $308.43 million. During the same period last year, the business earned $0.52 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis.
The company also recently announced an annual dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 1st will be issued a $1.52 dividend. This is a boost from Churchill Downs,’s previous annual dividend of $1.32. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 0.73%. Churchill Downs,’s dividend payout ratio (DPR) is currently 17.91%.
Several research analysts have recently issued reports on CHDN shares. Telsey Advisory Group raised their target price on shares of Churchill Downs, from $196.00 to $209.00 and gave the stock a “market perform” rating in a report on Thursday, October 12th. Zacks Investment Research cut shares of Churchill Downs, from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub upgraded shares of Churchill Downs, from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Finally, Imperial Capital raised their target price on shares of Churchill Downs, from $184.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $210.67.
In other news, Director Robert L. Evans sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 90,878 shares of the company’s stock, valued at approximately $18,016,563.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 18.44% of the company’s stock.
Churchill Downs, Company Profile
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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