Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,400,000 shares, a decline of 14.6% from the November 15th total of 1,640,000 shares. Based on an average trading volume of 450,100 shares, the short-interest ratio is presently 3.1 days.
Analyst Ratings Changes
A number of research firms recently commented on CHDN. Truist Financial reiterated a "buy" rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Wells Fargo & Company upped their price target on Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Mizuho reduced their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 22nd. JMP Securities restated a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Finally, StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Churchill Downs has a consensus rating of "Moderate Buy" and an average price target of $160.88.
Read Our Latest Analysis on Churchill Downs
Churchill Downs Stock Down 0.9 %
NASDAQ CHDN traded down $1.25 during trading hours on Monday, reaching $134.80. 505,316 shares of the company's stock were exchanged, compared to its average volume of 430,752. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs has a one year low of $111.10 and a one year high of $150.21. The company's 50-day moving average is $139.99 and its two-hundred day moving average is $138.61. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 earnings per share. On average, analysts forecast that Churchill Downs will post 5.86 EPS for the current fiscal year.
Churchill Downs Increases Dividend
The company 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 $0.409 dividend. This is an increase from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs's dividend payout ratio (DPR) is currently 7.29%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company's stock worth $61,000 after purchasing an additional 118 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Churchill Downs during the 2nd quarter worth about $1,000,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Churchill Downs by 5.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,052 shares of the company's stock valued at $1,403,000 after acquiring an additional 521 shares in the last quarter. Raymond James & Associates increased its position in shares of Churchill Downs by 66.4% in the second quarter. Raymond James & Associates now owns 80,756 shares of the company's stock valued at $11,274,000 after acquiring an additional 32,225 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Churchill Downs by 1.5% during the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company's stock worth $986,000 after acquiring an additional 105 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.
Churchill Downs Company Profile
(
Get Free Report)
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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