Churchill Downs (NASDAQ:CHDN) Coverage Initiated by Analysts at Barclays

Barclays initiated coverage on shares of Churchill Downs (NASDAQ:CHDN - Free Report) in a research report released on Friday, MarketBeat.com reports. The brokerage issued an overweight rating and a $125.00 price target on the stock.

Several other research firms have also commented on CHDN. Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. StockNews.com downgraded Churchill Downs from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. Stifel Nicolaus lowered their price objective on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JMP Securities reiterated a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Mizuho decreased their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $153.44.

Churchill Downs Stock Down 2.2 %

NASDAQ CHDN traded down $2.21 during midday trading on Friday, hitting $100.42. 186,724 shares of the company traded hands, compared to its average volume of 504,096. The company has a market cap of $7.38 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs has a 52 week low of $96.67 and a 52 week high of $150.21. The company's 50-day simple moving average is $112.12 and its 200-day simple moving average is $127.11.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its 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). The company had revenue of $624.20 million during the quarter, compared to analysts' expectations of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, equities research analysts forecast that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Churchill Downs Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. Churchill Downs's dividend payout ratio (DPR) is presently 7.04%.

Institutional Investors Weigh In On Churchill Downs

Hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp boosted its holdings in Churchill Downs by 22.1% during the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company's stock worth $3,958,000 after buying an additional 5,372 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Churchill Downs by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock valued at $80,839,000 after acquiring an additional 10,153 shares during the period. Proficio Capital Partners LLC acquired a new position in Churchill Downs in the 4th quarter worth about $1,927,000. JPMorgan Chase & Co. boosted its position in Churchill Downs by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company's stock worth $24,824,000 after purchasing an additional 12,226 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Churchill Downs by 4.7% in the fourth quarter. Victory Capital Management Inc. now owns 228,550 shares of the company's stock valued at $30,521,000 after buying an additional 10,359 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

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.