Churchill Downs (NASDAQ:CHDN) Price Target Lowered to $136.00 at Susquehanna

Churchill Downs (NASDAQ:CHDN) had its target price trimmed by Susquehanna from $150.00 to $136.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a positive rating on the stock.

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

Churchill Downs Trading Up 3.0 %

Shares of NASDAQ:CHDN opened at $103.00 on Tuesday. The firm has a fifty day moving average of $110.05 and a two-hundred day moving average of $125.90. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. Churchill Downs has a 12-month low of $96.67 and a 12-month high of $150.21. The firm has a market capitalization of $7.57 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data 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 15.61% and a return on equity of 43.67%. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. On average, equities analysts expect that Churchill Downs will post 6.92 EPS for the current fiscal year.

Churchill Downs Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. Churchill Downs’s dividend payout ratio is currently 7.04%.

Churchill Downs announced that its board has authorized a stock repurchase plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Churchill Downs

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Churchill Downs by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock valued at $909,183,000 after purchasing an additional 107,737 shares during the period. FMR LLC lifted its stake in shares of Churchill Downs by 6.4% in the fourth quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after buying an additional 214,694 shares during the period. Boston Partners grew its position in Churchill Downs by 25.6% during the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after buying an additional 366,283 shares in the last quarter. Schroder Investment Management Group increased its stake in Churchill Downs by 5.4% during the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock valued at $201,223,000 after acquiring an additional 77,213 shares during the period. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Churchill Downs by 4.6% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,344,595 shares of the company’s stock valued at $179,557,000 after acquiring an additional 59,657 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

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.