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

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

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

Institutional Investors Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently modified their holdings of CHDN. Wilmington Savings Fund Society FSB purchased a new position in Churchill Downs in the 3rd quarter worth about $27,000. Kimelman & Baird LLC purchased a new position in shares of Churchill Downs in the second quarter worth approximately $42,000. UMB Bank n.a. raised its holdings in shares of Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after acquiring an additional 255 shares during the period. Venturi Wealth Management LLC lifted its position 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 valued at $104,000 after acquiring an additional 90 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Churchill Downs in the 2nd quarter worth approximately $112,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

NASDAQ CHDN opened at $131.98 on Thursday. The company has a 50-day moving average price of $138.91 and a two-hundred day moving average price of $138.53. Churchill Downs has a 52 week low of $111.10 and a 52 week high of $150.21. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35.

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

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. 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. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is currently 7.29%.

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.