Churchill Downs Incorporated (NASDAQ:CHDN) Receives $160.88 Consensus Target Price from Brokerages

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have been given a consensus recommendation of “Buy” by the eight research firms that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $160.88.

Several equities analysts recently issued reports on CHDN shares. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company increased their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Stifel Nicolaus lifted their price target on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Macquarie increased their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHDN. Kimelman & Baird LLC bought a new position in Churchill Downs in the second quarter worth approximately $42,000. Central Pacific Bank Trust Division purchased a new position in Churchill Downs during the first quarter valued at $44,000. CWM LLC grew its holdings in Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the period. UMB Bank n.a. increased its position in Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after buying an additional 255 shares in the last quarter. Finally, Bank & Trust Co purchased a new stake in Churchill Downs in the second quarter worth about $84,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 0.7 %

Shares of Churchill Downs stock opened at $145.32 on Wednesday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs has a 52-week low of $111.10 and a 52-week high of $150.21. The company’s 50 day moving average price is $138.71 and its 200-day moving average price is $137.25. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 3.80 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. During the same period in the prior year, the business posted $0.87 earnings per share. Churchill Downs’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that Churchill Downs will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a $0.409 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is currently 6.92%.

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.