StockNews.com downgraded shares of Churchill Downs (NASDAQ:CHDN - Free Report) from a hold rating to a sell rating in a report issued on Tuesday morning.
A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a report on Friday, February 21st. JMP Securities restated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho reduced their price target on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Churchill Downs has an average rating of "Moderate Buy" and a consensus price target of $153.44.
Check Out Our Latest Research Report on Churchill Downs
Churchill Downs Stock Up 0.1 %
NASDAQ:CHDN traded up $0.10 during trading hours on Tuesday, reaching $102.51. The company's stock had a trading volume of 586,981 shares, compared to its average volume of 505,200. The stock has a 50 day moving average price of $112.92 and a two-hundred day moving average price of $127.51. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The company has a market capitalization of $7.53 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. Churchill Downs has a 12 month low of $96.67 and a 12 month high of $150.21.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS 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 company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Equities analysts predict that Churchill Downs will post 6.92 EPS for the current fiscal year.
Churchill Downs declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.
Churchill Downs Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.23%. Churchill Downs's payout ratio is presently 7.04%.
Institutional Investors Weigh In On Churchill Downs
Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after acquiring an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Churchill Downs during the third quarter worth $27,000. Fortitude Family Office LLC raised its holdings in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock worth $34,000 after purchasing an additional 246 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Churchill Downs by 159.1% during 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 period. Finally, Central Pacific Bank Trust Division boosted its holdings in Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock valued at $51,000 after purchasing an additional 129 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.
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.
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