Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $102.14 and last traded at $103.31, with a volume of 143780 shares changing hands. The stock had previously closed at $109.02.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on CHDN shares. StockNews.com cut Churchill Downs from a "hold" rating to a "sell" rating in a report on Tuesday. Stifel Nicolaus cut their price target on Churchill Downs from $164.00 to $161.00 and set a "buy" rating for the company in a report on Friday, February 21st. JMP Securities reiterated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho dropped their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Churchill Downs has a consensus rating of "Moderate Buy" and a consensus target price of $159.38.
View Our Latest Report on Churchill Downs
Churchill Downs Stock Up 8.1 %
The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The firm has a 50 day simple moving average of $113.76 and a two-hundred day simple moving average of $127.97.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. As a group, sell-side analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current year.
Churchill Downs Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs's dividend payout ratio is currently 7.04%.
Churchill Downs declared that its board has authorized a stock buyback program on Wednesday, March 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On Churchill Downs
Several large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Churchill Downs by 11,123.9% during the first quarter. GAMMA Investing LLC now owns 117,290 shares of the company's stock worth $13,027,000 after buying an additional 116,245 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in Churchill Downs by 39.6% during the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after purchasing an additional 129 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Churchill Downs by 159.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock valued at $46,000 after purchasing an additional 253 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Churchill Downs by 4.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,165 shares of the company's stock valued at $556,000 after acquiring an additional 165 shares during the period. Finally, Centaurus Financial Inc. increased its stake in shares of Churchill Downs by 15.4% during the fourth quarter. Centaurus Financial Inc. now owns 3,868 shares of the company's stock worth $517,000 after purchasing an additional 515 shares during the period. 82.59% of the stock is currently owned by institutional investors.
About Churchill Downs
(
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.
Featured Stories
Before you consider Churchill Downs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Churchill Downs wasn't on the list.
While Churchill Downs currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
