Brokerages Set Churchill Downs Incorporated (NASDAQ:CHDN) Price Target at $160.88

Churchill Downs Incorporated (NASDAQ:CHDN) has been assigned a consensus rating of “Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $160.88.

Several equities analysts recently issued reports on CHDN shares. Stifel Nicolaus boosted their price target on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Wells Fargo & Company boosted 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. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Churchill Downs

Several institutional investors have recently modified their holdings of CHDN. William Blair Investment Management LLC acquired a new position in shares of Churchill Downs during the 2nd quarter worth approximately $125,418,000. Westfield Capital Management Co. LP boosted its position in Churchill Downs by 100.0% during the 3rd 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 during the period. Assenagon Asset Management S.A. boosted its position in Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after purchasing an additional 193,914 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Churchill Downs during the 2nd quarter worth $26,384,000. Finally, Capital International Investors lifted its position in shares of Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after purchasing an additional 177,900 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 0.4 %

CHDN opened at $141.28 on Wednesday. The business’s 50-day simple moving average is $138.88 and its 200-day simple moving average is $137.61. 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 has a one year low of $111.10 and a one year high of $150.21. The stock has a market capitalization of $10.38 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 4.02 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $0.87 earnings per share. Analysts anticipate that Churchill Downs will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently declared 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. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s payout ratio is 6.92%.

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.