Shares of Churchill Downs Incorporated (NASDAQ:CHDN – Get Free Report) have been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $160.88.
Several equities research analysts have commented on CHDN shares. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho dropped their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Truist Financial reissued a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.
Check Out Our Latest Report on Churchill Downs
Churchill Downs Price Performance
Churchill Downs (NASDAQ:CHDN – Get Free Report) last issued 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. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same period in the previous year, the business earned $0.87 earnings per share. Churchill Downs’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Churchill Downs will post 5.84 EPS for the current fiscal year.
Churchill Downs Increases Dividend
The firm also recently announced an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were paid a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s payout ratio is 7.47%.
Hedge Funds Weigh In On Churchill Downs
Several institutional investors and hedge funds have recently bought and sold shares of CHDN. Westfield Capital Management Co. LP grew its stake 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 valued at $103,241,000 after acquiring an additional 381,754 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Churchill Downs during the 3rd quarter valued at about $18,368,000. State Street Corp grew its stake in shares of Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after buying an additional 114,018 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Churchill Downs in the 3rd quarter valued at approximately $15,231,000. Finally, Point72 Asset Management L.P. grew its stake in shares of Churchill Downs by 66.8% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.
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.
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