Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Consensus Rating of “Moderate Buy” from Analysts

Churchill Downs, Incorporated (NASDAQ:CHDN) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $136.8750.

A number of research firms have commented on CHDN. Citizens Jmp decreased their price target on Churchill Downs from $149.00 to $137.00 and set a “market outperform” rating on the stock in a research note on Friday, July 31st. Mizuho increased their price objective on shares of Churchill Downs from $155.00 to $157.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Churchill Downs in a report on Friday, July 31st. Wells Fargo & Company cut their target price on Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Truist Financial set a $145.00 price target on shares of Churchill Downs in a research note on Friday, June 12th.

Institutional Investors Weigh In On Churchill Downs

Several institutional investors have recently made changes to their positions in CHDN. Fifth Third Bancorp increased its position in shares of Churchill Downs by 6,547.6% in the fourth quarter. Fifth Third Bancorp now owns 52,649 shares of the company’s stock valued at $5,990,000 after buying an additional 51,857 shares in the last quarter. UBS Group AG boosted its holdings in Churchill Downs by 26.9% in the fourth quarter. UBS Group AG now owns 350,982 shares of the company’s stock valued at $39,935,000 after acquiring an additional 74,421 shares during the last quarter. M&T Bank Corp acquired a new stake in Churchill Downs during the 4th quarter worth approximately $4,266,000. First Trust Advisors LP increased its position in shares of Churchill Downs by 178.9% in the first quarter. First Trust Advisors LP now owns 76,395 shares of the company’s stock worth $6,863,000 after acquiring an additional 49,002 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in Churchill Downs by 126.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company’s stock valued at $5,326,000 after purchasing an additional 26,105 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 1.2%

Shares of NASDAQ CHDN opened at $89.70 on Tuesday. The company has a 50 day simple moving average of $86.99 and a 200-day simple moving average of $89.00. 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 company has a market capitalization of $6.25 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.86 and a beta of 0.68. Churchill Downs has a 1 year low of $79.40 and a 1 year high of $118.35.

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

About Churchill Downs

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.