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

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $137.60.

CHDN has been the topic of several research analyst reports. Barclays raised their target price on shares of Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Mizuho raised their price objective on shares of Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Susquehanna reissued a “positive” rating and set a $124.00 target price (down previously from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Macquarie reaffirmed an “outperform” rating and set a $155.00 price target on shares of Churchill Downs in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. lowered their price target on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th.

Churchill Downs Stock Down 0.5%

Shares of Churchill Downs stock opened at $99.29 on Friday. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.57 and a quick ratio of 0.57. Churchill Downs has a 1-year low of $85.58 and a 1-year high of $144.23. The business’s fifty day moving average price is $96.42 and its two-hundred day moving average price is $99.38. The company has a market capitalization of $6.92 billion, a P/E ratio of 18.05, a PEG ratio of 1.84 and a beta of 0.81.

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

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be issued a dividend of $0.438 per share. The ex-dividend date of this dividend is Friday, December 5th. This is an increase from Churchill Downs’s previous annual dividend of $0.41. This represents a yield of 46.0%. Churchill Downs’s dividend payout ratio is presently 7.82%.

Hedge Funds Weigh In On Churchill Downs

Several hedge funds have recently made changes to their positions in the business. First Horizon Corp bought a new stake in shares of Churchill Downs in the 3rd quarter worth approximately $26,000. Quent Capital LLC acquired a new position in Churchill Downs in the third quarter worth approximately $27,000. Geneos Wealth Management Inc. increased its holdings in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Churchill Downs during the 1st quarter valued at $29,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Churchill Downs by 1,670.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Company Profile

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.