Churchill Downs Incorporated (NASDAQ:CHDN) Receives Consensus Recommendation of “Buy” from Analysts

Churchill Downs Incorporated (NASDAQ:CHDN) has received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $160.13.

A number of equities analysts recently weighed in on CHDN shares. Mizuho lowered 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. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Truist Financial reiterated a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th.

Churchill Downs Price Performance

Shares of CHDN opened at $119.05 on Friday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The firm has a 50-day simple moving average of $127.31 and a 200-day simple moving average of $134.67. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 3.01 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. On average, equities research analysts anticipate that Churchill Downs will post 5.99 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.409 per share. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s payout ratio is 7.47%.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs during the 3rd quarter worth $27,000. Fortitude Family Office LLC boosted its position in shares of Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after buying an additional 246 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Churchill Downs in the 4th quarter valued at about $55,000. Finally, R Squared Ltd purchased a new position in Churchill Downs during the 4th quarter valued at about $55,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

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.