Churchill Downs (NASDAQ:CHDN) Stock Price Target Raised at JPMorgan Chase & Co.

Churchill Downs (NASDAQ:CHDN) had its target price boosted by JPMorgan Chase & Co. from $118.00 to $120.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

CHDN has been the topic of a number of other reports. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Stifel Nicolaus set a $132.00 target price on Churchill Downs and gave the company a “buy” rating in a research report on Tuesday. Royal Bank Of Canada set a $131.00 target price on Churchill Downs in a research note on Tuesday, October 13th. Weiss Ratings upgraded Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Finally, Susquehanna decreased their price target on Churchill Downs from $124.00 to $115.00 and set a “positive” rating for the company in a research note on Wednesday, October 21st. Eleven 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.70.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $94.83 on Friday. The firm has a market capitalization of $6.61 billion, a PE ratio of 14.73, a PEG ratio of 0.96 and a beta of 0.77. The stock’s fifty day moving average is $82.91 and its 200 day moving average is $88.28. Churchill Downs has a fifty-two week low of $73.08 and a fifty-two week 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 announced its earnings results on Wednesday, October 28th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.10. The business had revenue of $696.00 million for the quarter, compared to the consensus estimate of $695.16 million. Churchill Downs had a net margin of 15.15% and a return on equity of 39.90%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, sell-side analysts anticipate that Churchill Downs will post 6.98 earnings per share for the current year.

Churchill Downs Increases Dividend

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

Institutional Trading of Churchill Downs

Large investors have recently modified their holdings of the company. Kimelman & Baird LLC bought a new position in Churchill Downs in the second quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Churchill Downs during the second quarter worth $29,000. Root Financial Partners LLC boosted its position in Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after acquiring an additional 305 shares in the last quarter. Twin Tree Management LP bought a new stake in Churchill Downs during the 2nd quarter valued at $36,000. Finally, NewEdge Advisors LLC bought a new stake in Churchill Downs during the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

More Churchill Downs News

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.