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

Shares of Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) have earned an average rating of "Buy" from the eight analysts that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $160.88.

A number of research firms recently commented on CHDN. Bank of America raised Churchill Downs from a "neutral" rating to a "buy" rating and increased their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Mizuho dropped their price objective on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 22nd. Truist Financial reissued a "buy" rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company increased 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Churchill Downs during the 3rd quarter valued at approximately $27,000. Kimelman & Baird LLC bought a new position in shares of Churchill Downs during the second quarter valued at approximately $42,000. CWM LLC lifted its stake in Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company's stock worth $61,000 after acquiring an additional 118 shares during the period. UMB Bank n.a. boosted its holdings in Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company's stock valued at $76,000 after acquiring an additional 255 shares in the last quarter. Finally, Bank & Trust Co purchased a new position in Churchill Downs during the 2nd quarter valued at $84,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

NASDAQ CHDN traded up $1.89 on Friday, hitting $142.11. 286,627 shares of the stock were exchanged, compared to its average volume of 428,770. Churchill Downs has a 52 week low of $111.10 and a 52 week high of $150.21. The business's fifty day moving average is $139.18 and its 200 day moving average is $138.14. The company has a market capitalization of $10.45 billion, a PE ratio of 25.89, a P/E/G ratio of 3.94 and a beta of 0.96. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (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 business had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. During the same period in the prior year, the firm earned $0.87 earnings per share. Churchill Downs's revenue was up 9.8% on a year-over-year basis. Research analysts anticipate that Churchill Downs will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. The ex-dividend date is Friday, December 6th. This is an increase from Churchill Downs's previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs's dividend payout ratio (DPR) is 6.92%.

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.