Churchill Downs (NASDAQ:CHDN) Price Target Cut to $161.00 by Analysts at Stifel Nicolaus

Churchill Downs (NASDAQ:CHDN) had its price objective decreased by Stifel Nicolaus from $164.00 to $161.00 in a research note released on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Mizuho reduced their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Truist Financial reissued a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Price Performance

CHDN opened at $116.92 on Friday. The stock’s 50 day simple moving average is $126.93 and its 200 day simple moving average is $134.58. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. Churchill Downs has a 1 year low of $111.10 and a 1 year high of $150.21. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.96 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. As a group, analysts predict that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were paid a $0.409 dividend. This represents a yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio is presently 7.04%.

Institutional Investors Weigh In On Churchill Downs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Churchill Downs by 2.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 210,639 shares of the company’s stock worth $28,129,000 after purchasing an additional 4,036 shares during the period. Teza Capital Management LLC grew its stake in Churchill Downs by 53.7% in the fourth quarter. Teza Capital Management LLC now owns 7,056 shares of the company’s stock worth $942,000 after purchasing an additional 2,466 shares during the period. Strategic Wealth Partners Ltd. grew its stake in Churchill Downs by 6.5% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 11,300 shares of the company’s stock worth $1,391,000 after purchasing an additional 688 shares during the period. Systematic Financial Management LP grew its stake in Churchill Downs by 3.5% in the fourth quarter. Systematic Financial Management LP now owns 177,193 shares of the company’s stock worth $23,662,000 after purchasing an additional 5,919 shares during the period. Finally, Royal Bank of Canada grew its stake in Churchill Downs by 9.1% in the fourth quarter. Royal Bank of Canada now owns 103,402 shares of the company’s stock worth $13,809,000 after purchasing an additional 8,606 shares during the period. 82.59% of the stock is 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.