Churchill Downs Incorporated (NASDAQ:CHDN) Given Average Rating of “Buy” by Analysts

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $160.88.

CHDN has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, December 19th. Wells Fargo & Company lifted their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Mizuho decreased their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Truist Financial reissued a “buy” rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th.

Churchill Downs Trading Down 0.5 %

NASDAQ CHDN opened at $133.54 on Thursday. The firm has a market capitalization of $9.81 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95. Churchill Downs has a one year low of $111.10 and a one year high of $150.21. The company has a 50-day simple moving average of $138.59 and a 200-day simple moving average of $138.40. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results 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 during the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. On average, equities analysts forecast that Churchill Downs will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date is Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is presently 7.29%.

Institutional Trading of Churchill Downs

A number of hedge funds and other institutional investors have recently modified their holdings of CHDN. Winslow Asset Management Inc. grew its holdings in Churchill Downs by 2.8% during the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after acquiring an additional 90 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after purchasing an additional 90 shares in the last quarter. Commerce Bank lifted its stake in Churchill Downs by 1.8% during the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after purchasing an additional 90 shares during the last quarter. Arizona State Retirement System boosted its holdings in Churchill Downs by 0.6% during the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock worth $2,592,000 after buying an additional 114 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Churchill Downs by 4.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock worth $356,000 after buying an additional 116 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

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.