Churchill Downs (NASDAQ:CHDN) PT Lowered to $151.00

Churchill Downs (NASDAQ:CHDN) had its price objective reduced by Mizuho from $157.00 to $151.00 in a research report released on Tuesday morning, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other research firms have also recently issued reports on CHDN. Stifel Nicolaus lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Monday, October 14th. Macquarie increased their price target on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wells Fargo & Company raised their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group boosted their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Stock Performance

CHDN opened at $140.25 on Tuesday. The firm has a fifty day moving average price of $137.81 and a 200 day moving average price of $135.84. The stock has a market cap of $10.31 billion, a P/E ratio of 31.24, a P/E/G ratio of 2.06 and a beta of 0.97. Churchill Downs has a 1 year low of $106.45 and a 1 year high of $146.64. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.57 and a quick ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. Equities research analysts anticipate that Churchill Downs will post 6.13 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.409 per share. The ex-dividend date is Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is currently 8.91%.

Institutional Trading of Churchill Downs

Several institutional investors and hedge funds have recently bought and sold shares of CHDN. New York State Teachers Retirement System raised its stake in shares of Churchill Downs by 6.7% in the 3rd quarter. New York State Teachers Retirement System now owns 58,971 shares of the company’s stock valued at $7,973,000 after acquiring an additional 3,727 shares during the period. Hunter Associates Investment Management LLC grew its position in Churchill Downs by 14.2% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 23,278 shares of the company’s stock valued at $3,147,000 after acquiring an additional 2,886 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Churchill Downs in the third quarter valued at approximately $344,000. State of Alaska Department of Revenue lifted its holdings in Churchill Downs by 15.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,526 shares of the company’s stock worth $1,152,000 after buying an additional 1,165 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Churchill Downs by 7.4% in the third quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the company’s stock worth $2,745,000 after acquiring an additional 1,400 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

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.