Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Consensus Recommendation of “Buy” from Analysts

Churchill Downs, Incorporated (NASDAQ:CHDN) has been assigned a consensus rating of “Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $133.30.

Several equities analysts have issued reports on CHDN shares. JPMorgan Chase & Co. decreased their price target on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Wells Fargo & Company started coverage on shares of Churchill Downs in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $115.00 price objective on the stock. Barclays raised their target price on Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Finally, Susquehanna reissued a “positive” rating and issued a $124.00 price target (down previously from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of Churchill Downs during the third quarter worth $25,000. First Horizon Corp bought a new stake in Churchill Downs during the third quarter valued at $26,000. Quent Capital LLC bought a new stake in Churchill Downs during the third quarter valued at $27,000. Geneos Wealth Management Inc. grew its holdings in Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after acquiring an additional 232 shares during the period. Finally, Elequin Capital LP bought a new position in shares of Churchill Downs in the 1st quarter worth about $29,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Trading Up 1.0%

NASDAQ CHDN opened at $115.17 on Thursday. The business’s fifty day moving average is $100.70 and its 200 day moving average is $101.14. Churchill Downs has a twelve month low of $85.58 and a twelve month high of $140.33. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 2.05 and a beta of 0.70. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.87.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.12. The company had revenue of $683.00 million during the quarter, compared to the consensus estimate of $671.43 million. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 earnings per share. As a group, sell-side analysts expect that Churchill Downs will post 6.92 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be given a dividend of $0.438 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a yield of 39.0%. This is a boost from Churchill Downs’s previous annual dividend of $0.41. Churchill Downs’s payout ratio is currently 8.00%.

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.