Shares of Churchill Downs, Inc. (NASDAQ:CHDN) have received a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $132.50.
A number of analysts have weighed in on the company. ValuEngine downgraded Churchill Downs from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Zacks Investment Research downgraded Churchill Downs from a “hold” rating to a “strong sell” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price target on Churchill Downs from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. They noted that the move was a valuation call. Susquehanna Bancshares assumed coverage on Churchill Downs in a report on Wednesday, July 24th. They set a “positive” rating and a $140.00 price target for the company. Finally, BidaskClub downgraded Churchill Downs from a “buy” rating to a “hold” rating in a report on Tuesday.
NASDAQ CHDN traded up $1.57 on Friday, hitting $125.15. 9,288 shares of the company’s stock were exchanged, compared to its average volume of 350,462. Churchill Downs has a 52 week low of $74.58 and a 52 week high of $135.32. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 1.53 and a beta of 1.21. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.67. The stock has a 50-day moving average of $127.83 and a 200-day moving average of $116.09.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The business had revenue of $306.30 million during the quarter, compared to the consensus estimate of $299.27 million. Churchill Downs had a return on equity of 33.71% and a net margin of 11.43%. Churchill Downs’s quarterly revenue was up 38.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, analysts predict that Churchill Downs will post 4.03 earnings per share for the current year.
The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.581 per share. This is an increase from Churchill Downs’s previous annual dividend of $0.54. This represents a yield of 0.45%. The ex-dividend date of this dividend is Thursday, December 5th. Churchill Downs’s dividend payout ratio (DPR) is presently 14.84%.
In other Churchill Downs news, Director Karole Lloyd purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was purchased at an average cost of $123.16 per share, for a total transaction of $123,160.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 13.05% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CHDN. Nuveen Asset Management LLC bought a new position in shares of Churchill Downs during the 2nd quarter worth about $22,687,000. Renaissance Technologies LLC boosted its position in shares of Churchill Downs by 343.7% during the 2nd quarter. Renaissance Technologies LLC now owns 108,156 shares of the company’s stock worth $12,446,000 after purchasing an additional 83,782 shares in the last quarter. Invesco Ltd. boosted its position in shares of Churchill Downs by 51.3% during the 2nd quarter. Invesco Ltd. now owns 223,037 shares of the company’s stock worth $25,665,000 after purchasing an additional 75,607 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Churchill Downs by 203.1% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 71,531 shares of the company’s stock worth $8,231,000 after purchasing an additional 47,931 shares in the last quarter. Finally, Congress Asset Management Co. MA bought a new position in shares of Churchill Downs during the 3rd quarter worth about $5,864,000. 71.22% of the stock is currently owned by institutional investors.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.
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