Churchill Downs (NASDAQ:CHDN) Now Covered by Mizuho

Mizuho began coverage on shares of Churchill Downs (NASDAQ:CHDNFree Report) in a report released on Tuesday, reports. The brokerage issued a buy rating and a $142.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company lowered Churchill Downs from an overweight rating to an equal weight rating and boosted their price objective for the stock from $135.00 to $137.00 in a research note on Friday, January 5th. JMP Securities boosted their price objective on Churchill Downs from $148.00 to $150.00 and gave the stock a market outperform rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Churchill Downs has a consensus rating of Moderate Buy and an average price target of $142.63.

View Our Latest Report on Churchill Downs

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $120.77 on Tuesday. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $150.45. The firm has a market capitalization of $8.90 billion, a PE ratio of 22.14 and a beta of 1.03. The business’s 50 day moving average is $119.54 and its 200-day moving average is $119.65. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDNGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.68 by $0.18. The business had revenue of $561.20 million for the quarter, compared to analyst estimates of $553.05 million. Churchill Downs had a return on equity of 45.43% and a net margin of 16.95%. Churchill Downs’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. Sell-side analysts predict that Churchill Downs will post 5.44 earnings per share for the current year.

Institutional Investors Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its holdings in Churchill Downs by 0.5% in the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock valued at $919,513,000 after purchasing an additional 35,337 shares during the last quarter. Vanguard Group Inc. grew its stake in Churchill Downs by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock valued at $907,593,000 after acquiring an additional 37,065 shares during the period. BlackRock Inc. grew its stake in Churchill Downs by 99.3% in the second quarter. BlackRock Inc. now owns 5,976,445 shares of the company’s stock valued at $831,742,000 after acquiring an additional 2,977,747 shares during the period. Capital International Investors grew its stake in Churchill Downs by 6.1% in the fourth quarter. Capital International Investors now owns 2,382,753 shares of the company’s stock valued at $321,508,000 after acquiring an additional 136,197 shares during the period. Finally, State Street Corp grew its stake in Churchill Downs by 99.5% in the second quarter. State Street Corp now owns 1,838,002 shares of the company’s stock valued at $255,795,000 after acquiring an additional 916,516 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

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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; and casino gaming.

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Analyst Recommendations for Churchill Downs (NASDAQ:CHDN)

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