Churchill Downs (NASDAQ:CHDN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Churchill Downs (NASDAQ:CHDN) from a sell rating to a hold rating in a research note published on Wednesday.

Other equities research analysts also recently issued reports about the stock. Mizuho cut their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Truist Financial reiterated a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Trading Up 7.5 %

Churchill Downs stock opened at $147.45 on Wednesday. Churchill Downs has a 52 week low of $111.10 and a 52 week high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market capitalization of $10.84 billion, a P/E ratio of 26.86, a PEG ratio of 3.83 and a beta of 0.96. The stock has a 50-day simple moving average of $138.43 and a 200 day simple moving average of $137.01.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter last year, the company posted $0.87 earnings per share. Churchill Downs’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that Churchill Downs will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be paid a $0.409 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s payout ratio is currently 7.29%.

Institutional Trading of Churchill Downs

Institutional investors have recently modified their holdings of the business. Westfield Capital Management Co. LP grew its stake in shares of Churchill Downs by 12.6% in the first quarter. Westfield Capital Management Co. LP now owns 423,521 shares of the company’s stock worth $52,411,000 after purchasing an additional 47,269 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Churchill Downs by 259.3% in the second quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock worth $2,772,000 after purchasing an additional 14,331 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after purchasing an additional 193,914 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock worth $34,944,000 after purchasing an additional 100,230 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Churchill Downs by 4.4% in the first quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after purchasing an additional 35,587 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

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; casino gaming; and Terre Haute Casino Resort.