Barclays Has Lowered Expectations for Churchill Downs (NASDAQ:CHDN) Stock Price

Churchill Downs (NASDAQ:CHDN - Free Report) had its price objective trimmed by Barclays from $125.00 to $124.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

CHDN has been the topic of a number of other research reports. Mizuho cut their price target on shares of Churchill Downs from $148.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Stifel Nicolaus decreased their price objective on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company dropped their target price on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Finally, Truist Financial dropped their target price on Churchill Downs from $162.00 to $155.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.80.

Churchill Downs Stock Performance

NASDAQ CHDN traded down $1.45 during trading on Friday, reaching $89.97. The company's stock had a trading volume of 385,354 shares, compared to its average volume of 536,004. The firm has a 50 day moving average price of $107.21 and a 200 day moving average price of $124.28. Churchill Downs has a 12 month low of $85.58 and a 12 month high of $150.21. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $642.60 million for the quarter, compared to analyst estimates of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business's revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 EPS. As a group, equities analysts anticipate that Churchill Downs will post 6.92 EPS for the current fiscal year.

Churchill Downs announced that its board has initiated a share buyback program on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Churchill Downs Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.27%. Churchill Downs's payout ratio is 7.12%.

Institutional Trading of Churchill Downs

A number of large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock valued at $2,724,000 after buying an additional 100 shares during the period. Utah Retirement Systems lifted its stake in Churchill Downs by 2.7% during the fourth quarter. Utah Retirement Systems now owns 3,800 shares of the company's stock worth $507,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. lifted its stake in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Arizona State Retirement System lifted its stake in Churchill Downs by 0.6% during the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company's stock worth $2,559,000 after purchasing an additional 116 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Churchill Downs by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company's stock worth $301,000 after purchasing an additional 120 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

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.