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

Churchill Downs, Incorporated (NASDAQ:CHDN) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $134.8889.

Several equities research analysts have recently issued reports on CHDN shares. Citizens Jmp decreased their price target on shares of Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating for the company in a research note on Friday, July 31st. Truist Financial set a $145.00 price objective on Churchill Downs in a report on Friday, June 12th. Mizuho raised their target price on Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Finally, Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Friday, July 31st.

Hedge Funds Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in Churchill Downs by 178.9% in the 1st quarter. First Trust Advisors LP now owns 76,395 shares of the company’s stock valued at $6,863,000 after buying an additional 49,002 shares in the last quarter. BlackRock Inc. bought a new position in shares of Churchill Downs in the second quarter worth $555,948,000. Commerce Bank purchased a new position in shares of Churchill Downs in the second quarter valued at $604,000. Aurora Investment Counsel bought a new stake in shares of Churchill Downs during the 2nd quarter valued at $2,265,000. Finally, Sei Investments Co. lifted its holdings in Churchill Downs by 97.5% during the 1st quarter. Sei Investments Co. now owns 105,917 shares of the company’s stock worth $9,516,000 after purchasing an additional 52,286 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Up 1.3%

NASDAQ CHDN opened at $83.86 on Friday. The business’s fifty day moving average is $86.90 and its 200-day moving average is $88.29. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 0.78 and a beta of 0.67. Churchill Downs has a one year low of $79.40 and a one year high of $118.35.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.45. The business had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.10 earnings per share. Equities research analysts predict that Churchill Downs will post 7.14 EPS for the current year.

Churchill Downs Company Profile

Churchill Downs Incorporated is a gaming, entertainment and racing company headquartered in Louisville, Kentucky. The company owns and operates Churchill Downs Racetrack, home of the Kentucky Derby, as well as other thoroughbred racing venues, casinos, racinos and historical horse racing facilities.

Its operations include live and historical horse racing, casino gaming, video lottery and other gaming activities, hospitality, dining and entertainment. Through its TwinSpires business, Churchill Downs also provides online horse-racing wagering and related digital betting services in jurisdictions where such activities are permitted.

Founded in 1875, Churchill Downs has expanded from its namesake racetrack into a diversified gaming and entertainment company.