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

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have covered the stock in the last year is $160.88.

Several research firms have recently commented on CHDN. Mizuho lowered their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. JMP Securities restated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, December 19th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. 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 note on Thursday, October 17th. Finally, Truist Financial reaffirmed a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th.

Churchill Downs Trading Down 0.1 %

Shares of NASDAQ CHDN opened at $131.98 on Thursday. The firm has a market capitalization of $9.70 billion, a PE ratio of 24.04, a PEG 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 current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The business has a 50-day moving average price of $138.91 and a two-hundred day moving average price of $138.53.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. As a group, analysts predict that Churchill Downs will post 5.86 earnings per share for the current fiscal 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 given a $0.409 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is currently 7.29%.

Institutional Trading of Churchill Downs

Several large investors have recently modified their holdings of CHDN. Retirement Systems of Alabama lifted its position in Churchill Downs by 3.8% during the 3rd quarter. Retirement Systems of Alabama now owns 180,569 shares of the company’s stock worth $24,415,000 after acquiring an additional 6,626 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Churchill Downs by 6.6% in the third quarter. Franklin Resources Inc. now owns 197,118 shares of the company’s stock worth $27,338,000 after purchasing an additional 12,156 shares during the period. Synovus Financial Corp lifted its position in shares of Churchill Downs by 3.0% during the 3rd quarter. Synovus Financial Corp now owns 10,381 shares of the company’s stock worth $1,404,000 after purchasing an additional 303 shares during the last quarter. Tidal Investments LLC boosted its stake in Churchill Downs by 295.2% during the 3rd quarter. Tidal Investments LLC now owns 6,988 shares of the company’s stock valued at $945,000 after purchasing an additional 5,220 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Churchill Downs in the 3rd quarter valued at approximately $27,000. 82.59% of the stock is owned by institutional investors.

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.