Churchill Downs Incorporated (NASDAQ:CHDN) Receives Consensus Rating of "Buy" from Brokerages

Shares of Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) have received a consensus recommendation of "Buy" from the eight research firms that are covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $160.88.

Several research analysts recently issued reports on CHDN shares. Mizuho cut their target price on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 22nd. JMP Securities reaffirmed a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Truist Financial reaffirmed a "buy" rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th.

Institutional Trading of Churchill Downs

A number of large investors have recently bought and sold shares of the company. Aigen Investment Management LP purchased a new stake in Churchill Downs in the 3rd quarter worth about $516,000. Westfield Capital Management Co. LP increased its stake in shares of Churchill Downs by 100.0% in the third 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 in the last quarter. Point72 Asset Management L.P. raised its position in shares of Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company's stock valued at $34,944,000 after purchasing an additional 100,230 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Churchill Downs during the 2nd quarter valued at approximately $794,000. Finally, Dimensional Fund Advisors LP grew its stake in Churchill Downs by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company's stock valued at $61,782,000 after buying an additional 57,892 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Up 0.2 %

CHDN stock traded up $0.27 during midday trading on Thursday, reaching $132.25. 305,064 shares of the company's stock traded hands, compared to its average volume of 432,506. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm's fifty day moving average price is $138.75 and its 200-day moving average price is $138.48. Churchill Downs has a 52 week low of $111.10 and a 52 week high of $150.21. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 3.84 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its 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 company had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. During the same period in the previous year, the firm posted $0.87 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that Churchill Downs will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. This is a positive change from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio (DPR) is presently 7.29%.

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.