Brokerages Set Churchill Downs Incorporated (NASDAQ:CHDN) PT at $160.88

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $160.88.

CHDN has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Mizuho cut their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, December 19th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after buying an additional 114,018 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Churchill Downs by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock valued at $175,742,000 after acquiring an additional 96,910 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Churchill Downs during the 2nd quarter worth about $125,418,000. Westfield Capital Management Co. LP increased its stake in shares of Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Churchill Downs by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock valued at $88,551,000 after purchasing an additional 3,608 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Trading Up 1.2 %

Shares of NASDAQ CHDN opened at $134.16 on Thursday. Churchill Downs has a twelve month low of $111.10 and a twelve month high of $150.21. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 3.84 and a beta of 0.95. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The company’s fifty day moving average is $138.64 and its 200-day moving average is $138.49.

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

Churchill Downs Increases Dividend

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

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.