Brokerages Set Churchill Downs, Incorporated (NASDAQ:CHDN) Price Target at $133.30

Churchill Downs, Incorporated (NASDAQ:CHDN) has received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $134.30.

Several equities analysts recently issued reports on CHDN shares. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. JPMorgan Chase & Co. lowered their target price on Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Susquehanna restated a “positive” rating and set a $124.00 price target (down previously from $126.00) on shares of Churchill Downs in a research note on Tuesday, October 21st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $125.00 price target (up from $115.00) on shares of Churchill Downs in a report on Monday. Finally, Macquarie reiterated an “outperform” rating and issued a $155.00 price objective on shares of Churchill Downs in a research report on Friday, October 24th.

Churchill Downs Stock Down 3.5%

CHDN stock opened at $109.28 on Monday. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 1.71 and a beta of 0.68. The company has a fifty day moving average price of $108.80 and a 200 day moving average price of $103.62. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.57 and a quick ratio of 0.57. Churchill Downs has a 12 month low of $85.58 and a 12 month high of $131.24.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. The company had revenue of $683.00 million for the quarter, compared to analyst estimates of $671.43 million. During the same period in the previous year, the business posted $0.97 earnings per share. Churchill Downs’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts expect that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were issued a $0.438 dividend. The ex-dividend date of this dividend was Friday, December 5th. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. This represents a dividend yield of 39.0%. Churchill Downs’s payout ratio is presently 8.00%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. London Co. of Virginia increased its position in Churchill Downs by 38.7% during the 2nd quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock worth $302,402,000 after purchasing an additional 835,294 shares during the period. AQR Capital Management LLC boosted its stake in shares of Churchill Downs by 22,974.8% in the second quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock valued at $79,352,000 after buying an additional 784,591 shares in the last quarter. Jennison Associates LLC grew its holdings in Churchill Downs by 52.3% during the third quarter. Jennison Associates LLC now owns 1,457,336 shares of the company’s stock worth $141,376,000 after acquiring an additional 500,395 shares during the period. Alua Capital Management LP purchased a new position in Churchill Downs in the third quarter worth $48,532,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Churchill Downs by 49.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after acquiring an additional 452,716 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Company Profile

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.