Churchill Downs Incorporated (NASDAQ:CHDN) Receives $160.88 Consensus PT from Brokerages

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

CHDN has been the subject of several research analyst reports. Mizuho dropped their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Wells Fargo & Company upped their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Truist Financial restated a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th.

Churchill Downs Trading Down 0.8 %

NASDAQ CHDN opened at $125.39 on Monday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The stock has a market cap of $9.22 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 2.95 and a beta of 0.96. The stock has a 50 day simple moving average of $134.57 and a two-hundred day simple moving average of $137.27.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 earnings per share. On average, analysts forecast that Churchill Downs will post 5.84 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were given a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 7.29%.

Institutional Investors Weigh In On Churchill Downs

Several hedge funds have recently added to or reduced their stakes in CHDN. Aigen Investment Management LP purchased a new position in shares of Churchill Downs in the 3rd quarter worth about $516,000. Westfield Capital Management Co. LP increased its stake in Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock worth $34,944,000 after buying an additional 100,230 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Churchill Downs by 15.1% in 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. Finally, Atria Investments Inc grew its holdings in shares of Churchill Downs by 3.9% during the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after buying an additional 224 shares during the last quarter. 82.59% of the stock is 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.