Mizuho Issues Pessimistic Forecast for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN - Free Report) had its target price cut by Mizuho from $151.00 to $148.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also issued reports on CHDN. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $168.00 to $165.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Truist Financial restated a "buy" rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, JMP Securities restated a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs currently has an average rating of "Moderate Buy" and a consensus target price of $159.38.

Churchill Downs Stock Performance

Churchill Downs stock traded down $2.13 during midday trading on Wednesday, reaching $116.92. 1,108,462 shares of the stock traded hands, compared to its average volume of 548,700. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm has a fifty day moving average price of $127.31 and a two-hundred day moving average price of $134.67. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.96 and a beta of 0.95. Churchill Downs has a fifty-two week low of $111.10 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 44.76%. On average, equities research analysts forecast that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a $0.409 dividend. This is an increase from Churchill Downs's previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs's payout ratio is presently 7.04%.

Institutional Trading of Churchill Downs

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Winslow Asset Management Inc. raised its holdings in shares of Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company's stock worth $443,000 after purchasing an additional 90 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company's stock worth $104,000 after purchasing an additional 90 shares in the last quarter. Commerce Bank raised its holdings in shares of Churchill Downs by 1.8% in the 3rd quarter. Commerce Bank now owns 5,072 shares of the company's stock worth $686,000 after purchasing an additional 90 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock valued at $2,724,000 after acquiring an additional 100 shares during the period. Finally, Utah Retirement Systems raised its holdings in shares of Churchill Downs by 2.7% during the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock valued at $507,000 after acquiring an additional 100 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Company Profile

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.