Churchill Downs (NASDAQ:CHDN) Reaches New 12-Month High at $135.56

Churchill Downs, Inc. (NASDAQ:CHDN)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $135.56 and last traded at $135.55, with a volume of 1351 shares trading hands. The stock had previously closed at $133.55.

Several equities research analysts recently commented on CHDN shares. ValuEngine downgraded shares of Churchill Downs from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. BidaskClub upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Zacks Investment Research downgraded shares of Churchill Downs from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $132.20.

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.67. The firm has a market cap of $5.25 billion, a PE ratio of 37.03, a P/E/G ratio of 1.63 and a beta of 1.22. The company’s 50-day moving average is $129.37 and its 200 day moving average is $121.39.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The business had revenue of $306.30 million during the quarter, compared to the consensus estimate of $299.27 million. Churchill Downs had a net margin of 11.43% and a return on equity of 33.71%. The firm’s quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. On average, research analysts predict that Churchill Downs, Inc. will post 4.03 EPS for the current fiscal year.

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a $0.581 dividend. This represents a yield of 0.45%. The ex-dividend date is Thursday, December 5th. This is a positive change from Churchill Downs’s previous annual dividend of $0.54. Churchill Downs’s dividend payout ratio is currently 15.93%.

In related news, Director Karole Lloyd acquired 1,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were purchased at an average price of $123.16 per share, for a total transaction of $123,160.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.05% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its holdings in Churchill Downs by 1.0% during the second quarter. Envestnet Asset Management Inc. now owns 8,416 shares of the company’s stock worth $968,000 after buying an additional 86 shares during the last quarter. First Hawaiian Bank lifted its position in Churchill Downs by 1.9% during the third quarter. First Hawaiian Bank now owns 5,203 shares of the company’s stock worth $642,000 after purchasing an additional 98 shares during the period. Van ECK Associates Corp lifted its position in Churchill Downs by 2.5% during the second quarter. Van ECK Associates Corp now owns 4,848 shares of the company’s stock worth $558,000 after purchasing an additional 117 shares during the period. Stock Yards Bank & Trust Co. lifted its position in Churchill Downs by 0.7% during the third quarter. Stock Yards Bank & Trust Co. now owns 24,925 shares of the company’s stock worth $3,077,000 after purchasing an additional 175 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Churchill Downs by 8.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,276 shares of the company’s stock worth $281,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 72.22% of the company’s stock.

Churchill Downs Company Profile (NASDAQ:CHDN)

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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