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

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $139.00.

Several equities analysts have recently commented on CHDN shares. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a research note on Friday, June 12th. Weiss Ratings downgraded shares of Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Finally, Citizens Jmp upped their price objective on shares of Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, April 24th.

Hedge Funds Weigh In On Churchill Downs

Institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. raised its stake in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in Churchill Downs in the third quarter worth about $25,000. Parkside Financial Bank & Trust raised its stake in Churchill Downs by 293.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock worth $29,000 after buying an additional 191 shares in the last quarter. Root Financial Partners LLC raised its stake in Churchill Downs by 1,173.1% in the first quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after buying an additional 305 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Churchill Downs in the fourth quarter worth about $38,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $88.93 on Monday. The company has a 50-day simple moving average of $89.31 and a two-hundred day simple moving average of $95.16. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. Churchill Downs has a 12-month low of $80.24 and a 12-month high of $118.46. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 0.59 and a beta of 0.68.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $659.32 million. During the same period in the prior year, the business posted $1.07 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Churchill Downs will post 7.32 EPS for the current year.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.