Mizuho Initiates Coverage on Churchill Downs (NASDAQ:CHDN)

Mizuho started coverage on shares of Churchill Downs (NASDAQ:CHDN) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $142.00 price objective on the stock.

CHDN has been the subject of a number of other reports. JMP Securities lifted their target price on shares of Churchill Downs from $148.00 to $150.00 and gave the company a market outperform rating in a research note on Friday, February 23rd. Wells Fargo & Company cut Churchill Downs from an overweight rating to an equal weight rating and boosted their price target for the stock from $135.00 to $137.00 in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $142.63.

Churchill Downs Stock Performance

Churchill Downs stock opened at $123.75 on Tuesday. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 22.69 and a beta of 1.03. Churchill Downs has a 12 month low of $106.45 and a 12 month high of $150.45. The company has a debt-to-equity ratio of 5.34, a current ratio of 0.53 and a quick ratio of 0.53. The stock’s 50-day moving average is $119.50 and its 200-day moving average is $119.75.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, February 21st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.18. The company had revenue of $561.20 million for the quarter, compared to analyst estimates of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. Churchill Downs’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 EPS. Equities analysts anticipate that Churchill Downs will post 5.44 earnings per share for the current year.

Hedge Funds Weigh In On Churchill Downs

Large investors have recently made changes to their positions in the business. Capital Research Global Investors grew its holdings in shares of Churchill Downs by 0.5% during the 4th quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after purchasing an additional 35,337 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Churchill Downs by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock valued at $907,593,000 after buying an additional 37,065 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Churchill Downs by 99.3% during the 2nd quarter. BlackRock Inc. now owns 5,976,445 shares of the company’s stock worth $831,742,000 after acquiring an additional 2,977,747 shares during the period. Capital International Investors boosted its position in shares of Churchill Downs by 6.1% during the 4th quarter. Capital International Investors now owns 2,382,753 shares of the company’s stock valued at $321,508,000 after acquiring an additional 136,197 shares in the last quarter. Finally, State Street Corp increased its stake in Churchill Downs by 99.5% in the second quarter. State Street Corp now owns 1,838,002 shares of the company’s stock valued at $255,795,000 after acquiring an additional 916,516 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

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; and casino gaming.