Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $135.00.

A number of brokerages have recently weighed in on CHDN. Jefferies Financial Group reiterated a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Citizens Jmp boosted their price objective on Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 14th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company dropped their target price on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th.

Institutional Trading of Churchill Downs

Large investors have recently modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new position in Churchill Downs during the 3rd quarter valued at about $25,000. First Horizon Corp acquired a new stake in shares of Churchill Downs in the third quarter valued at approximately $26,000. Quent Capital LLC acquired a new stake in shares of Churchill Downs in the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. raised its holdings in shares of Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Churchill Downs by 1,670.6% during the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock worth $29,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Trading Down 4.7%

NASDAQ CHDN opened at $83.68 on Friday. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.60 and a current ratio of 0.60. Churchill Downs has a one year low of $80.24 and a one year high of $118.46. The company has a 50-day simple moving average of $94.33 and a 200-day simple moving average of $100.11. The firm has a market capitalization of $5.83 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.46 and a beta of 0.65.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.12. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. The firm had revenue of $665.90 million for the quarter, compared to analyst estimates of $658.01 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. Churchill Downs’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Churchill Downs will post 6.92 earnings per share for the current year.

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.