Churchill Downs, Incorporated (NASDAQ:CHDN) Receives $133.30 Average PT from Analysts

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been given an average recommendation of “Buy” by the eleven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $133.30.

Several equities research analysts have recently commented on the company. Susquehanna reissued a “positive” rating and issued a $124.00 target price (down from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Barclays boosted their price objective on Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Macquarie reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Churchill Downs in a research note on Friday, October 24th. Finally, Wells Fargo & Company assumed coverage on shares of Churchill Downs in a research note on Tuesday, November 18th. They set an “overweight” rating and a $115.00 price target for the company.

Institutional Trading of Churchill Downs

A number of hedge funds have recently modified their holdings of the company. Allworth Financial LP lifted its holdings in shares of Churchill Downs by 1.5% in the third quarter. Allworth Financial LP now owns 7,549 shares of the company’s stock valued at $732,000 after purchasing an additional 109 shares in the last quarter. Swiss Life Asset Management Ltd bought a new stake in Churchill Downs in the 3rd quarter valued at approximately $289,000. CIBC Bancorp USA Inc. acquired a new position in Churchill Downs during the 3rd quarter worth approximately $337,000. Coldstream Capital Management Inc. boosted its position in Churchill Downs by 5.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company’s stock worth $327,000 after acquiring an additional 177 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its stake in shares of Churchill Downs by 145.8% during the 3rd quarter. Dark Forest Capital Management LP now owns 38,595 shares of the company’s stock worth $3,744,000 after acquiring an additional 22,894 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Trading Up 0.9%

CHDN opened at $116.76 on Thursday. Churchill Downs has a 1-year low of $85.58 and a 1-year high of $138.61. The stock has a market capitalization of $8.14 billion, a PE ratio of 21.23, a PEG ratio of 2.10 and a beta of 0.70. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87. The firm has a 50-day moving average price of $101.51 and a two-hundred day moving average price of $101.46.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.97 by $0.12. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. The business had revenue of $683.00 million for the quarter, compared to analysts’ expectations of $671.43 million. During the same period in the prior year, the firm earned $0.97 earnings per share. Churchill Downs’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be paid a $0.438 dividend. The ex-dividend date of this dividend is Friday, December 5th. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. This represents a yield of 39.0%. Churchill Downs’s payout ratio is currently 8.00%.

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.