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

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been assigned a consensus rating of “Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $160.88.

Several equities analysts have weighed in on CHDN shares. Truist Financial reissued a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. JMP Securities reissued a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their target price on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Mizuho cut their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd.

Churchill Downs Price Performance

Churchill Downs stock opened at $126.00 on Monday. The business’s 50-day simple moving average is $135.50 and its 200 day simple moving average is $137.54. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 2.97 and a beta of 0.96. Churchill Downs has a 12-month low of $111.10 and a 12-month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter last year, the business earned $0.87 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Churchill Downs will post 5.84 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a dividend of $0.409 per share. The ex-dividend date of this dividend was Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CHDN. Commonwealth Equity Services LLC grew its holdings in shares of Churchill Downs by 7.9% during the second quarter. Commonwealth Equity Services LLC now owns 2,204 shares of the company’s stock worth $308,000 after buying an additional 162 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Churchill Downs by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock worth $61,782,000 after buying an additional 57,892 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Churchill Downs by 4.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock worth $356,000 after buying an additional 116 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Churchill Downs by 17.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,195 shares of the company’s stock worth $719,000 after buying an additional 782 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Churchill Downs by 107.1% during the second quarter. Blair William & Co. IL now owns 8,367 shares of the company’s stock worth $1,168,000 after buying an additional 4,327 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

About Churchill Downs

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.