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

Churchill Downs (NASDAQ:CHDN) had its target price reduced by research analysts at Mizuho from $151.00 to $148.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 24.32% from the company’s previous close.

Several other research firms have also recently weighed in on CHDN. Truist Financial reissued a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Wells Fargo & Company lowered their target price on 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 target on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average price target of $160.13.

Churchill Downs Stock Down 0.4 %

CHDN stock opened at $119.05 on Wednesday. Churchill Downs has a 1-year low of $111.10 and a 1-year high of $150.21. The business’s 50 day simple moving average is $127.31 and its 200 day simple moving average is $134.67. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm has a market capitalization of $8.75 billion, a PE ratio of 21.68, a PEG ratio of 3.01 and a beta of 0.95.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CHDN. Creative Planning grew its stake in Churchill Downs by 15.4% during the third quarter. Creative Planning now owns 4,655 shares of the company’s stock worth $629,000 after buying an additional 620 shares in the last quarter. Eastern Bank bought a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $241,000. Community Trust & Investment Co. boosted its position in shares of Churchill Downs by 0.6% during the 3rd quarter. Community Trust & Investment Co. now owns 129,629 shares of the company’s stock worth $17,527,000 after acquiring an additional 745 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in Churchill Downs in the third quarter valued at approximately $236,000. Finally, Argent Capital Management LLC raised its position in Churchill Downs by 2.6% during the third quarter. Argent Capital Management LLC now owns 19,542 shares of the company’s stock valued at $2,642,000 after purchasing an additional 502 shares in the last quarter. Institutional investors 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.