Churchill Downs Inc. (CHDN) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Churchill Downs Inc. (NASDAQ:CHDN) have been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $159.33.
Several research firms recently weighed in on CHDN. JPMorgan Chase & Co. began coverage on shares of Churchill Downs in a research report on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 price objective for the company. Zacks Investment Research cut shares of Churchill Downs from a “buy” rating to a “hold” rating in a research report on Monday, October 10th. Imperial Capital reiterated an “outperform” rating and set a $165.00 target price (up previously from $145.00) on shares of Churchill Downs in a research report on Friday, October 14th. Gabelli upgraded shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Telsey Advisory Group upped their target price on shares of Churchill Downs from $173.00 to $176.00 and gave the company an “outperform” rating in a research report on Friday, August 5th.
Churchill Downs (NASDAQ:CHDN) traded up 2.11% during mid-day trading on Friday, reaching $152.25. The company had a trading volume of 60,706 shares. Churchill Downs has a 12 month low of $118.76 and a 12 month high of $152.35. The stock has a market cap of $2.50 billion, a PE ratio of 29.23 and a beta of 0.69. The firm’s 50-day moving average price is $141.24 and its 200-day moving average price is $136.49.
Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.95 by $0.43. Churchill Downs had a return on equity of 13.60% and a net margin of 6.82%. The company earned $303.40 million during the quarter, compared to the consensus estimate of $301.86 million. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Churchill Downs will post $5.68 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 2nd will be given a $1.32 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a dividend yield of 0.97%. This is a boost from Churchill Downs’s previous annual dividend of $1.15. Churchill Downs’s dividend payout ratio is currently 22.03%.
In related news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $150.00, for a total value of $750,000.00. Following the completion of the sale, the director now owns 184,235 shares in the company, valued at approximately $27,635,250. The transaction was disclosed in a filing with the SEC, which is available through this link. 19.05% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new stake in Churchill Downs during the third quarter worth approximately $123,000. BlackRock Inc. raised its position in shares of Churchill Downs by 125.6% in the first quarter. BlackRock Inc. now owns 900 shares of the company’s stock worth $133,000 after buying an additional 501 shares during the last quarter. Bruderman Asset Management LLC bought a new position in shares of Churchill Downs during the second quarter worth $140,000. Advantus Capital Management Inc bought a new position in shares of Churchill Downs during the second quarter worth $184,000. Finally, Genesee Valley Trust Co. bought a new position in shares of Churchill Downs during the third quarter worth $200,000. Institutional investors and hedge funds own 72.32% of the company’s stock.
About Churchill Downs
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.
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