Barclays Issues Positive Forecast for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN) had its price objective raised by Barclays from $132.00 to $133.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CHDN has been the subject of several other research reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $120.00 price objective (up from $117.00) on shares of Churchill Downs in a research note on Monday, October 19th. Truist Financial lowered their target price on Churchill Downs from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Citigroup reissued a “market outperform” rating on shares of Churchill Downs in a report on Tuesday, October 13th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Churchill Downs from $123.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.70.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $94.83 on Friday. The company has a fifty day moving average price of $82.91 and a two-hundred day moving average price of $88.28. Churchill Downs has a one year low of $73.08 and a one year high of $118.35. The stock has a market cap of $6.61 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.96 and a beta of 0.77. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.32 and a quick ratio of 0.36.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 28th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.10. The company had revenue of $696.00 million for the quarter, compared to analyst estimates of $695.16 million. Churchill Downs had a net margin of 15.15% and a return on equity of 39.90%. Churchill Downs’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. As a group, equities analysts predict that Churchill Downs will post 6.98 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Friday, December 4th will be issued a $0.4690 dividend. The ex-dividend date is Friday, December 4th. This is an increase from Churchill Downs’s previous annual dividend of $0.4380. This represents a yield of 57.0%. Churchill Downs’s dividend payout ratio is presently 6.68%.

Institutional Trading of Churchill Downs

Large investors have recently modified their holdings of the stock. Kimelman & Baird LLC acquired a new position in shares of Churchill Downs during the second quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Churchill Downs in the 2nd quarter worth about $29,000. Root Financial Partners LLC raised its holdings in shares of Churchill Downs by 1,173.1% in the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after acquiring an additional 305 shares during the last quarter. Twin Tree Management LP bought a new position in Churchill Downs in the 2nd quarter valued at about $36,000. Finally, NewEdge Advisors LLC bought a new position in Churchill Downs in the 1st quarter valued at about $50,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs News Summary

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Third-quarter results exceeded expectations. Churchill Downs reported adjusted earnings of $1.23 per share, ahead of the approximately $1.13 consensus estimate, while revenue reached $696.0 million versus expectations of roughly $695.2 million. Revenue increased 1.9% year over year, and the earnings performance appears to have strengthened investor confidence in the company’s cash-flow outlook. Churchill Downs third-quarter earnings results
• Positive Sentiment: $750 million share repurchase authorized. The buyback could support earnings per share and provide demand for CHDN shares, particularly as management emphasizes cash generation. Churchill Downs $750 million buyback
• Positive Sentiment: Analysts raised their targets. Barclays increased its target from $132 to $133 and maintained an “overweight” rating, while Mizuho lifted its target from $125 to $126 and retained an “outperform” rating. Both imply substantial upside from the recent trading level. Barclays Churchill Downs rating Mizuho Churchill Downs rating
• Positive Sentiment: Dividend increased. Churchill Downs declared an annual dividend of $0.469 per share, up 7.1% from $0.438, payable January 5, 2027. The increase adds to the shareholder-return appeal, although the dividend yield remains modest. Churchill Downs dividend declaration
• Positive Sentiment: Technical momentum improved. CHDN shares broke above their 200-day moving average, a development that may attract momentum-oriented investors. Churchill Downs moves above 200-day moving average
• Neutral Sentiment: Churchill Downs appointed Michael Tucker as a Class II director. The board change is unlikely to materially affect near-term valuation. Michael Tucker board appointment
• Negative Sentiment: Stifel lowered its price target to $131, modestly tempering the otherwise bullish analyst tone, although it kept CHDN on its Select List. Stifel Churchill Downs price target

Churchill Downs Company Profile

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.