Brokerages Set Churchill Downs Incorporated (NASDAQ:CHDN) PT at $160.88

Churchill Downs Incorporated (NASDAQ:CHDN) has been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $160.88.

Several equities research analysts have issued reports on the stock. Truist Financial restated a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $155.00 in a report on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. Mizuho cut their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Institutional Trading of Churchill Downs

A number of large investors have recently added to or reduced their stakes in CHDN. Winslow Asset Management Inc. raised its holdings in Churchill Downs by 2.8% in the third 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 lifted its position in shares of Churchill Downs by 13.3% in the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after buying an additional 90 shares in the last quarter. Commerce Bank raised its position in Churchill Downs by 1.8% during the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after purchasing an additional 90 shares during the period. First Horizon Advisors Inc. increased its stake in Churchill Downs by 13.8% in the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after purchasing an additional 99 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Churchill Downs by 1.5% in the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Churchill Downs stock opened at $140.26 on Friday. Churchill Downs has a 52-week low of $111.10 and a 52-week high of $150.21. The firm has a market capitalization of $10.31 billion, a P/E ratio of 25.55, a P/E/G ratio of 3.95 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The stock has a fifty day moving average price of $139.29 and a two-hundred day moving average price of $138.22.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 earnings per share. As a group, analysts anticipate that Churchill Downs will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a $0.409 dividend. This represents a yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. Churchill Downs’s dividend payout ratio is presently 6.92%.

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.