Stifel Nicolaus Cuts Churchill Downs (NASDAQ:CHDN) Price Target to $161.00

Churchill Downs (NASDAQ:CHDN) had its price objective reduced by Stifel Nicolaus from $164.00 to $161.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on CHDN. Wells Fargo & Company cut their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday. Mizuho cut their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Truist Financial reiterated a “buy” rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, JMP Securities restated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Trading Down 1.8 %

NASDAQ CHDN opened at $116.92 on Friday. Churchill Downs has a one year low of $111.10 and a one year high of $150.21. The company has a 50-day simple moving average of $126.93 and a 200-day simple moving average of $134.61. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The firm has a market capitalization of $8.59 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.95 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, equities analysts forecast that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were given a dividend of $0.409 per share. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend was Friday, December 6th. Churchill Downs’s payout ratio is 7.22%.

Institutional Trading of Churchill Downs

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Churchill Downs by 2.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 210,639 shares of the company’s stock worth $28,129,000 after purchasing an additional 4,036 shares in the last quarter. Teza Capital Management LLC raised its holdings in shares of Churchill Downs by 53.7% in the 4th quarter. Teza Capital Management LLC now owns 7,056 shares of the company’s stock worth $942,000 after purchasing an additional 2,466 shares in the last quarter. Strategic Wealth Partners Ltd. raised its holdings in shares of Churchill Downs by 6.5% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 11,300 shares of the company’s stock worth $1,391,000 after purchasing an additional 688 shares in the last quarter. Systematic Financial Management LP raised its holdings in shares of Churchill Downs by 3.5% in the 4th quarter. Systematic Financial Management LP now owns 177,193 shares of the company’s stock worth $23,662,000 after purchasing an additional 5,919 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Churchill Downs by 9.1% in the 4th quarter. Royal Bank of Canada now owns 103,402 shares of the company’s stock worth $13,809,000 after purchasing an additional 8,606 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

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.