Churchill Downs Incorporated (NASDAQ:CHDN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have received a consensus rating of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $144.50.

Several analysts have weighed in on CHDN shares. Wells Fargo & Company raised Churchill Downs from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $137.00 to $141.00 in a research note on Monday, April 15th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday. Truist Financial boosted their price target on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho raised their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the company a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus upped their target price on Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday.

Institutional Investors Weigh In On Churchill Downs

Institutional investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its position in shares of Churchill Downs by 0.5% in the fourth quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock worth $919,513,000 after purchasing an additional 35,337 shares in the last quarter. Vanguard Group Inc. increased its stake in Churchill Downs by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock valued at $907,593,000 after buying an additional 37,065 shares during the period. Capital International Investors lifted its position in Churchill Downs by 6.1% in the 4th quarter. Capital International Investors now owns 2,382,753 shares of the company’s stock worth $321,508,000 after buying an additional 136,197 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Churchill Downs by 8.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock valued at $126,051,000 after acquiring an additional 83,214 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Churchill Downs by 98.1% in the fourth quarter. Boston Partners now owns 810,564 shares of the company’s stock worth $109,347,000 after acquiring an additional 401,319 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Up 0.2 %

CHDN stock opened at $129.44 on Friday. The stock has a market cap of $9.54 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 8.59 and a beta of 1.03. The firm’s 50-day simple moving average is $119.79 and its 200 day simple moving average is $120.64. Churchill Downs has a fifty-two week low of $106.45 and a fifty-two week high of $150.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.78 by $0.35. The company had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. Churchill Downs had a net margin of 13.72% and a return on equity of 44.33%. Churchill Downs’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. As a group, sell-side analysts predict that Churchill Downs will post 5.48 EPS for the current year.

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; and casino gaming.