Churchill Downs Incorporated (NASDAQ:CHDN) Given Consensus Recommendation of “Buy” by Analysts

Churchill Downs Incorporated (NASDAQ:CHDN) has received an average rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $160.88.

Several research firms recently commented on CHDN. Truist Financial restated a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Wells Fargo & Company upped their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday. Finally, Mizuho decreased their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $126.00 on Monday. Churchill Downs has a one year low of $111.10 and a one year high of $150.21. The company has a market cap of $9.26 billion, a P/E ratio of 22.95, a P/E/G ratio of 2.97 and a beta of 0.96. The firm’s fifty day moving average price is $135.50 and its two-hundred day moving average price is $137.54. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Churchill Downs will post 5.84 earnings per share for the current year.

Churchill Downs Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP bought a new position in shares of Churchill Downs in the third quarter worth about $516,000. Westfield Capital Management Co. LP lifted its holdings in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after acquiring an additional 381,754 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock worth $34,944,000 after acquiring an additional 100,230 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Churchill Downs by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock worth $61,782,000 after acquiring an additional 57,892 shares during the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after acquiring an additional 224 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

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.