Churchill Downs (NASDAQ:CHDN) Price Target Cut to $140.00 by Analysts at Mizuho

Churchill Downs (NASDAQ:CHDN) had its price target trimmed by Mizuho from $148.00 to $140.00 in a report released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on CHDN. Barclays started coverage on shares of Churchill Downs in a report on Friday, April 11th. They issued an “overweight” rating and a $125.00 target price for the company. Stifel Nicolaus cut their price objective on Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. StockNews.com cut shares of Churchill Downs from a “hold” rating to a “sell” rating in a research note on Tuesday, April 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.90.

Churchill Downs Stock Up 3.0 %

Churchill Downs stock opened at $103.00 on Tuesday. The company has a market capitalization of $7.57 billion, a P/E ratio of 18.13, a PEG ratio of 2.95 and a beta of 0.86. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. Churchill Downs has a fifty-two week low of $96.67 and a fifty-two week high of $150.21. The stock has a 50-day simple moving average of $110.05 and a 200-day simple moving average of $125.90.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Equities research analysts expect that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has approved a share buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Churchill Downs Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Institutional Trading of Churchill Downs

A number of institutional investors have recently added to or reduced their stakes in CHDN. Barclays PLC boosted its position in shares of Churchill Downs by 59.2% in the third quarter. Barclays PLC now owns 29,584 shares of the company’s stock worth $4,000,000 after buying an additional 11,006 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs during the 3rd quarter worth approximately $27,000. Tidal Investments LLC boosted its holdings in Churchill Downs by 295.2% in the 3rd quarter. Tidal Investments LLC now owns 6,988 shares of the company’s stock worth $945,000 after acquiring an additional 5,220 shares during the period. Synovus Financial Corp grew its position in Churchill Downs by 3.0% in the third quarter. Synovus Financial Corp now owns 10,381 shares of the company’s stock valued at $1,404,000 after acquiring an additional 303 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Churchill Downs by 6.6% during the third quarter. Franklin Resources Inc. now owns 197,118 shares of the company’s stock valued at $27,338,000 after purchasing an additional 12,156 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

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.