Churchill Downs Incorporated (NASDAQ:CHDN) Receives $144.80 Average PT from Analysts

Churchill Downs Incorporated (NASDAQ:CHDN - Get Free Report) has been given an average rating of "Buy" by the ten brokerages that are covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $144.80.

CHDN has been the subject of several recent research reports. Macquarie decreased their price target on shares of Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. JMP Securities restated a "market outperform" rating and issued a $157.00 price objective on shares of Churchill Downs in a report on Thursday, April 24th. Mizuho cut their target price on Churchill Downs from $148.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Barclays decreased their price target on Churchill Downs from $125.00 to $124.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Wells Fargo & Company cut their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Churchill Downs in the 3rd quarter valued at about $27,000. Fortitude Family Office LLC increased its position in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after buying an additional 246 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Churchill Downs by 159.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company's stock worth $46,000 after buying an additional 253 shares during the period. Finally, Central Pacific Bank Trust Division boosted its holdings in Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company's stock worth $51,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Price Performance

CHDN stock traded up $2.28 during midday trading on Wednesday, reaching $93.23. 802,898 shares of the stock were exchanged, compared to its average volume of 539,729. Churchill Downs has a 52 week low of $85.58 and a 52 week high of $150.21. The company has a fifty day moving average price of $105.78 and a 200 day moving average price of $123.40. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The stock has a market capitalization of $6.73 billion, a PE ratio of 16.41, a P/E/G ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share 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 the consensus estimate 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 for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. As a group, analysts expect that Churchill Downs will post 6.92 EPS for the current fiscal year.

Churchill Downs Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.26%. Churchill Downs's dividend payout ratio (DPR) is presently 7.12%.

Churchill Downs announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.