Churchill Downs Incorporated (NASDAQ:CHDN) Given Consensus Recommendation of “Buy” by Analysts

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $160.88.

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Truist Financial reissued a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Mizuho reduced their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, December 19th.

Churchill Downs Trading Down 0.5 %

Shares of CHDN opened at $133.54 on Thursday. Churchill Downs has a 1-year low of $111.10 and a 1-year high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $138.59 and a 200-day simple moving average of $138.40. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. During the same quarter last year, the business posted $0.87 earnings per share. Churchill Downs’s revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that Churchill Downs will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently disclosed 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 represents a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 7.29%.

Institutional Trading of Churchill Downs

Hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP acquired a new position in Churchill Downs during the 3rd quarter worth $516,000. Westfield Capital Management Co. LP grew its stake in Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock valued at $34,944,000 after buying an additional 100,230 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Churchill Downs during the second quarter valued at approximately $794,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Churchill Downs by 15.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock worth $61,782,000 after buying an additional 57,892 shares during the last quarter. Institutional investors and hedge funds 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.