Churchill Downs Incorporated (NASDAQ:CHDN) Receives $160.88 Consensus Target Price from Brokerages

Shares of Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) have received a consensus rating of "Buy" from the eight brokerages that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $160.88.

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, July 11th. Macquarie raised their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Bank of America raised shares of Churchill Downs from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Mizuho cut their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, July 22nd.

Churchill Downs Stock Up 7.5 %

Shares of CHDN traded up $10.29 on Wednesday, reaching $147.45. The company's stock had a trading volume of 1,052,843 shares, compared to its average volume of 435,376. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs has a twelve month low of $111.10 and a twelve month high of $150.21. The stock has a market capitalization of $10.84 billion, a PE ratio of 24.98, a PEG ratio of 3.83 and a beta of 0.96. The firm has a fifty day moving average of $138.26 and a 200-day moving average of $136.94.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $627.90 million. During the same quarter in the prior year, the business posted $0.87 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. Equities analysts predict that Churchill Downs will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a dividend of $0.409 per share. The ex-dividend date 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 currently 6.92%.

Hedge Funds Weigh In On Churchill Downs

Institutional investors and hedge funds have recently made changes to their positions in the business. Kimelman & Baird LLC bought a new position in shares of Churchill Downs during the 2nd quarter valued at $42,000. Central Pacific Bank Trust Division bought a new stake in Churchill Downs in the 1st quarter worth $44,000. CWM LLC grew its holdings in Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company's stock worth $61,000 after acquiring an additional 118 shares during the last quarter. UMB Bank n.a. grew its holdings in Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company's stock worth $76,000 after acquiring an additional 255 shares during the last quarter. Finally, Bank & Trust Co bought a new stake in Churchill Downs in the 2nd quarter worth $84,000. Institutional investors 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.