Churchill Downs Incorporated (NASDAQ:CHDN) Receives $160.50 Average Target Price from Analysts

Churchill Downs Incorporated (NASDAQ:CHDN) has been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $160.13.

A number of brokerages recently issued reports on CHDN. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Mizuho decreased their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Wells Fargo & Company reduced their target price on Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Truist Financial restated a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th.

Institutional Inflows and Outflows

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

Churchill Downs Stock Performance

NASDAQ CHDN opened at $119.05 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The stock has a market cap 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 has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The business has a fifty day moving average of $127.31 and a 200-day moving average of $134.67.

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

Churchill Downs Increases Dividend

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

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.