Churchill Downs, Incorporated (NASDAQ:CHDN) Given Average Recommendation of “Buy” by Brokerages

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been given a consensus recommendation of “Buy” by the eleven brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $133.30.

A number of equities research analysts have recently weighed in on the company. Susquehanna reissued a “positive” rating and set a $124.00 target price (down previously from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Churchill Downs in a research note on Wednesday, October 8th. Barclays increased their target price on shares of Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. lowered their target price on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Finally, Wells Fargo & Company began coverage on Churchill Downs in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $115.00 price target for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in Churchill Downs by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company’s stock worth $68,359,000 after buying an additional 10,108 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Churchill Downs by 21.6% during the 1st quarter. Deutsche Bank AG now owns 8,149 shares of the company’s stock worth $905,000 after acquiring an additional 1,445 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Churchill Downs by 33.1% during the 1st quarter. Townsquare Capital LLC now owns 13,356 shares of the company’s stock worth $1,483,000 after acquiring an additional 3,319 shares in the last quarter. Invesco Ltd. increased its stake in Churchill Downs by 47.8% in the first quarter. Invesco Ltd. now owns 226,157 shares of the company’s stock valued at $25,119,000 after acquiring an additional 73,100 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Churchill Downs during the first quarter valued at approximately $19,267,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $115.17 on Thursday. Churchill Downs has a 52 week low of $85.58 and a 52 week high of $140.33. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 2.05 and a beta of 0.70. The company has a 50-day simple moving average of $100.70 and a 200 day simple moving average of $101.14. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The business had revenue of $683.00 million during the quarter, compared to analysts’ expectations of $671.43 million. During the same period last year, the firm posted $0.97 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a dividend of $0.438 per share. This represents a dividend yield of 39.0%. The ex-dividend date is Friday, December 5th. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. Churchill Downs’s dividend payout ratio is currently 8.00%.

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.