Churchill Downs, Inc. (NASDAQ:CHDN) Raises Dividend to $0.58 Per Share

Churchill Downs, Inc. (NASDAQ:CHDN) announced an annual dividend on Wednesday, October 30th, Zacks reports. Investors of record on Friday, December 6th will be paid a dividend of 0.581 per share on Friday, January 3rd. This represents a yield of 0.45%. The ex-dividend date is Thursday, December 5th. This is a boost from Churchill Downs’s previous annual dividend of $0.54.

Shares of NASDAQ CHDN opened at $129.67 on Tuesday. The firm’s 50-day moving average is $129.28 and its two-hundred day moving average is $119.85. The company has a market capitalization of $5.21 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22. Churchill Downs has a 12-month low of $74.58 and a 12-month high of $135.32. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.09 and a quick ratio of 1.09.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. Churchill Downs had a return on equity of 33.71% and a net margin of 11.43%. The firm had revenue of $306.30 million during the quarter, compared to the consensus estimate of $299.27 million. During the same period in the previous year, the firm posted $0.53 EPS. The company’s quarterly revenue was up 38.4% compared to the same quarter last year. On average, analysts forecast that Churchill Downs will post 4.03 EPS for the current fiscal year.

CHDN has been the subject of several recent research reports. Zacks Investment Research downgraded Churchill Downs from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 24th. BidaskClub upgraded Churchill Downs from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, ValuEngine lowered Churchill Downs from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $132.20.

In other news, Director Karole Lloyd acquired 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was acquired at an average price of $123.16 per share, with a total value of $123,160.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.05% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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Dividend History for Churchill Downs (NASDAQ:CHDN)

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