Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday after Jefferies Financial Group lowered their price target on the stock from $160.00 to $127.00. Jefferies Financial Group currently has a buy rating on the stock. Churchill Downs traded as low as $87.38 and last traded at $87.99, with a volume of 4196215 shares. The stock had previously closed at $105.04.
Several other research analysts have also issued reports on the stock. Macquarie reduced their target price on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating on the stock in a research note on Thursday. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday. Mizuho decreased their price target on shares of Churchill Downs from $148.00 to $140.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus cut their price objective on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Truist Financial reduced their target price on shares of Churchill Downs from $162.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Churchill Downs has a consensus rating of "Moderate Buy" and a consensus price target of $144.80.
Check Out Our Latest Analysis on Churchill Downs
Institutional Investors Weigh In On Churchill Downs
A number of institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in Churchill Downs during the fourth quarter valued at approximately $74,967,000. SG Americas Securities LLC grew its holdings in shares of Churchill Downs by 28,864.9% in the first quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock valued at $56,879,000 after purchasing an additional 510,331 shares in the last quarter. Boston Partners increased its position in Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock worth $239,619,000 after purchasing an additional 366,283 shares during the last quarter. FMR LLC raised its stake in Churchill Downs by 6.4% during the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock valued at $479,687,000 after purchasing an additional 214,694 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Churchill Downs by 97.9% during the fourth quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock valued at $57,578,000 after purchasing an additional 213,311 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company's stock.
Churchill Downs Stock Up 0.4 %
The business's 50 day simple moving average is $108.37 and its 200 day simple moving average is $124.86. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The firm has a market capitalization of $6.49 billion, a PE ratio of 15.55, a PEG ratio of 2.95 and a beta of 0.86.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company had revenue of $642.60 million for the quarter, compared to analysts' expectations of $649.68 million. On average, equities research analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.
Churchill Downs Dividend Announcement
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.27%. Churchill Downs's payout ratio is presently 7.12%.
Churchill Downs declared that its Board of Directors has approved a share buyback program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.
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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