Churchill Downs, Incorporated (NASDAQ:CHDN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Churchill Downs, Incorporated (NASDAQ:CHDN) has received a consensus rating of “Moderate Buy” from eleven research firms, with ten recommending a buy and one a hold.
• The average twelve-month price target among analysts is $137.50, with price targets recently adjusted by firms like Truist Financial and Macquarie.
• Churchill Downs reported $3.10 EPS for the last quarter, exceeding the consensus estimate by $0.07, with a revenue increase of 4.9% year-over-year.

Churchill Downs, Incorporated (NASDAQ:CHDN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $137.50.

Several equities analysts have recently weighed in on the company. Truist Financial lowered their price target on Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Weiss Ratings reissued a "hold (c-)" rating on shares of Churchill Downs in a report on Wednesday, October 8th. Barclays increased their price target on Churchill Downs from $127.00 to $131.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Macquarie increased their price target on Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Susquehanna reissued a "positive" rating and set a $124.00 price target (down from $126.00) on shares of Churchill Downs in a report on Tuesday.

Hedge Funds Weigh In On Churchill Downs

Institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in Churchill Downs by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company's stock worth $34,073,000 after purchasing an additional 11,460 shares during the period. Aurora Investment Counsel bought a new position in Churchill Downs in the 1st quarter worth $2,675,000. Teacher Retirement System of Texas raised its holdings in Churchill Downs by 19.3% in the 1st quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company's stock worth $1,218,000 after purchasing an additional 1,774 shares during the period. Hunter Associates Investment Management LLC raised its holdings in Churchill Downs by 29.1% in the 1st quarter. Hunter Associates Investment Management LLC now owns 32,428 shares of the company's stock worth $3,600,000 after purchasing an additional 7,306 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in Churchill Downs in the 1st quarter worth $8,677,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Performance

Shares of CHDN opened at $96.61 on Wednesday. The business's fifty day simple moving average is $97.71 and its two-hundred day simple moving average is $99.33. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 4.74. Churchill Downs has a 12 month low of $85.58 and a 12 month high of $150.21. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.83 and a beta of 0.83.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, beating the consensus estimate of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The business had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same period last year, the business posted $2.89 EPS. The company's revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Company Profile

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.

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