Mizuho Issues Positive Forecast for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN) had its target price hoisted by Mizuho from $125.00 to $126.00 in a research note issued to investors on Friday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Citizens Jmp reduced their price objective on shares of Churchill Downs from $137.00 to $131.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 13th. Wells Fargo & Company reiterated an “overweight” rating and set a $120.00 target price (up from $117.00) on shares of Churchill Downs in a research note on Monday, October 19th. Susquehanna dropped their target price on Churchill Downs from $124.00 to $115.00 and set a “positive” rating on the stock in a report on Wednesday, October 21st. Truist Financial dropped their target price on Churchill Downs from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Finally, Royal Bank Of Canada set a $131.00 price target on Churchill Downs in a research note on Tuesday, October 13th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $126.70.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $94.83 on Friday. The business has a 50-day simple moving average of $82.91 and a 200-day simple moving average of $88.28. The company has a market cap of $6.61 billion, a PE ratio of 14.73, a P/E/G ratio of 0.96 and a beta of 0.77. Churchill Downs has a one year low of $73.08 and a one year high of $118.35. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.36 and a current ratio of 0.32.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.10. Churchill Downs had a net margin of 15.15% and a return on equity of 39.90%. The company had revenue of $696.00 million during the quarter, compared to the consensus estimate of $695.16 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Churchill Downs will post 6.98 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, January 5th. Investors of record on Friday, December 4th will be given a $0.4690 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.4380. The ex-dividend date is Friday, December 4th. This represents a yield of 57.0%. Churchill Downs’s payout ratio is presently 6.68%.

Institutional Trading of Churchill Downs

A number of hedge funds have recently added to or reduced their stakes in the stock. Provenance Wealth Advisors LLC purchased a new stake in shares of Churchill Downs in the third quarter valued at about $201,000. ProShare Advisors LLC increased its stake in shares of Churchill Downs by 13.8% during the third quarter. ProShare Advisors LLC now owns 331,954 shares of the company’s stock worth $25,122,000 after acquiring an additional 40,339 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Churchill Downs by 1,083.3% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 49,700 shares of the company’s stock worth $3,761,000 after purchasing an additional 45,500 shares in the last quarter. Simplicity Wealth LLC purchased a new position in Churchill Downs during the third quarter worth about $215,000. Finally, Sage Private Wealth Group LLC acquired a new stake in Churchill Downs in the third quarter valued at about $225,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Churchill Downs

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Third-quarter results exceeded expectations. Churchill Downs reported adjusted earnings of $1.23 per share, ahead of the approximately $1.13 consensus estimate, while revenue reached $696.0 million versus expectations of roughly $695.2 million. Revenue increased 1.9% year over year, and the earnings performance appears to have strengthened investor confidence in the company’s cash-flow outlook. Churchill Downs third-quarter earnings results
• Positive Sentiment: $750 million share repurchase authorized. The buyback could support earnings per share and provide demand for CHDN shares, particularly as management emphasizes cash generation. Churchill Downs $750 million buyback
• Positive Sentiment: Analysts raised their targets. Barclays increased its target from $132 to $133 and maintained an “overweight” rating, while Mizuho lifted its target from $125 to $126 and retained an “outperform” rating. Both imply substantial upside from the recent trading level. Barclays Churchill Downs rating Mizuho Churchill Downs rating
• Positive Sentiment: Dividend increased. Churchill Downs declared an annual dividend of $0.469 per share, up 7.1% from $0.438, payable January 5, 2027. The increase adds to the shareholder-return appeal, although the dividend yield remains modest. Churchill Downs dividend declaration
• Positive Sentiment: Technical momentum improved. CHDN shares broke above their 200-day moving average, a development that may attract momentum-oriented investors. Churchill Downs moves above 200-day moving average
• Neutral Sentiment: Churchill Downs appointed Michael Tucker as a Class II director. The board change is unlikely to materially affect near-term valuation. Michael Tucker board appointment
• Negative Sentiment: Stifel lowered its price target to $131, modestly tempering the otherwise bullish analyst tone, although it kept CHDN on its Select List. Stifel Churchill Downs price target

About Churchill Downs

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.