Churchill Downs (CHDN) Stock Price, News & Analysis

Company Overview

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. The company’s gaming division operates casino properties and racinos, featuring slot machines, table games and electronic gaming terminals. Through strategic acquisitions and partnerships, it has expanded into regional gaming markets—serving patrons in Kentucky, Illinois, Indiana, Louisiana, Mississippi, Missouri and Texas—and continues to explore opportunities in emerging sports wagering jurisdictions.

The roots of Churchill Downs date back to 1875 when the Louisville track hosted its inaugural Kentucky Derby. Over the decades, the organization evolved from a single-venue operator into a publicly traded corporation, diversifying its revenue streams across live racing, simulcasting, online wagering and casino gaming. Its TwinSpires brand, launched in the early 21st century, has become a prominent online betting destination, leveraging digital technology to connect users with live racing and sports events.

Headquartered in Louisville, Churchill Downs Incorporated is led by President and Chief Executive Officer Bill Carstanjen, who has overseen significant expansion into gaming and digital wagering. The company’s leadership team maintains a focus on operational excellence, customer engagement and regulatory compliance. With a blend of historic racing tradition and modern gaming innovations, Churchill Downs continues to shape the landscape of American horse racing and sports betting.

Key Stats

• Today's Range: $101.49 to $103.54
• 50-Day Range: $100.45 to $113.75
• 52-Week Range: $85.58 to $150.21
• Volume: 537,963 shs
• Average Volume: 480,763 shs
• Market Capitalization: $7.18 billion
• P/E Ratio: 17.59
• Dividend Yield: 0.40%
• Price Target: $136.50
• Consensus Rating: Buy

Churchill Downs Stock Analysis - MarketRank™

Churchill Downs scored higher than 100% of companies evaluated by MarketBeat, and ranked 1st out of 289 stocks in the consumer discretionary sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.5 / 5
• Analyst Rating: Buy

Consensus Rating

Churchill Downs has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 10 buy ratings, no hold ratings, and no sell ratings.

Upside Potential

Churchill Downs has a consensus price target of $136.50, representing about 33.3% upside from its current price of $102.38.

Amount of Analyst Coverage

Churchill Downs has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 13.87%

Earnings Growth

Earnings for Churchill Downs are expected to grow by 13.87% in the coming year, from $6.92 to $7.88 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Churchill Downs is 17.59, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 278.02.

Price to Earnings Ratio vs. Sector

The P/E ratio of Churchill Downs is 17.59, which means that it is trading at a less expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 18.37.

Price to Earnings Growth Ratio

Churchill Downs has a PEG Ratio of 1.91. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Churchill Downs has a P/B Ratio of 6.95. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

2.95% of the outstanding shares of Churchill Downs have been sold short.

Short Interest Ratio / Days to Cover

Churchill Downs has a short interest ratio ("days to cover") of 3.1, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Churchill Downs has recently decreased by 7.17%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 3.3 / 5
• Dividend Strength: Strong

Dividend Yield

Churchill Downs has a dividend yield of 0.40%, which is in the bottom 25% of all stocks that pay dividends.

Dividend Growth

Churchill Downs has been increasing its dividend for 14 years.

Dividend Coverage

The dividend payout ratio of Churchill Downs is 7.04%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Churchill Downs will have a dividend payout ratio of 5.20% next year. This indicates that Churchill Downs will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.8 / 5
• Environmental Score: -2.92

Percentage of Shares Shorted

2.95% of the outstanding shares of Churchill Downs have been sold short.

Short Interest Ratio / Days to Cover

Churchill Downs has a short interest ratio ("days to cover") of 3.1, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Churchill Downs has recently decreased by 7.17%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.0 / 5
• News Sentiment: 1.34

News Sentiment

Churchill Downs has a news sentiment score of 1.34. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.80 average news sentiment score of Consumer Discretionary companies.

News Coverage This Week

MarketBeat has tracked 15 news articles for Churchill Downs this week, compared to 13 articles on an average week.

MarketBeat Follows

Only 2 people have added Churchill Downs to their MarketBeat watchlist in the last 30 days. This is a decrease of -33% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Churchill Downs insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 5.34% of the stock of Churchill Downs is held by insiders.

Percentage Held by Institutions

82.59% of the stock of Churchill Downs is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CHDN Stock Analysis - Frequently Asked Questions

How have CHDN shares performed this year?

Churchill Downs' stock was trading at $133.54 at the beginning of the year. Since then, CHDN stock has decreased by 23.3% and is now trading at $102.38.

How were Churchill Downs' earnings last quarter?

Churchill Downs, Incorporated (NASDAQ:CHDN) announced its earnings results on Wednesday, July, 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.07. The business's revenue was up 4.9% on a year-over-year basis.
Read the conference call transcript.

When did Churchill Downs' stock split?

Churchill Downs's stock split before market open on Monday, May 22nd 2023.The 2-1 split was announced on Tuesday, April 25th 2023. The newly created shares were distributed to shareholders after the market closes on Friday, May 19th 2023. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

Is Churchill Downs buying back stock?

Churchill Downs' board authorized a stock buyback program on Wednesday, March 12th 2025, which authorizes the company to repurchase $500,000,000 in outstanding shares, according to EventVestor. This means that the company could repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Who are Churchill Downs' major shareholders?

Churchill Downs' top institutional shareholders include London Co. of Virginia (4.27%), State Street Corp (2.93%), Geode Capital Management LLC (1.95%) and Boston Partners (1.78%). Insiders that own company stock include William E Mudd, R Alex Rankin, Douglas C Grissom and Paul C Varga.
View institutional ownership trends.

How do I buy shares of Churchill Downs?

Shares of CHDN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Churchill Downs own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Churchill Downs investors own include Broadcom (AVGO), IDEXX Laboratories (IDXX), Tesla (TSLA), NVIDIA (NVDA), Applied Materials (AMAT), Meta Platforms (META) and Advanced Micro Devices (AMD).

Company Calendar

• Last Earnings: 7/23/2025
• Today: 9/06/2025
• Next Earnings (Estimated): 10/22/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Consumer Discretionary
• Industry: GAMING
• Sub-Industry: Casinos & Gaming
• Current Symbol: NASDAQ:CHDN
• CIK: 20212
• Web: www.churchilldownsincorporated.com
• Phone: (502) 636-4400
• Fax: 502-636-4430
• Employees: 8,870
• Year Founded: 1875

Price Target and Rating

• Average Price Target for Churchill Downs: $136.50
• High Price Target: $158.00
• Low Price Target: $116.00
• Potential Upside/Downside: +33.3%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 10 Analysts

Profitability

• EPS (Trailing Twelve Months): $5.82
• Trailing P/E Ratio: 17.59
• Forward P/E Ratio: 14.79
• P/E Growth: 1.91
• Net Income: $426.80 million
• Net Margins: 15.22%
• Pretax Margin: 19.97%
• Return on Equity: 41.46%
• Return on Assets: 6.10%

Debt

• Debt-to-Equity Ratio: 4.74
• Current Ratio: 0.60
• Quick Ratio: 0.60

Sales & Book Value

• Annual Sales: $2.73 billion
• Price / Sales: 2.63
• Cash Flow: $8.82 per share
• Price / Cash Flow: 11.61
• Book Value: $14.74 per share
• Price / Book: 6.95

Miscellaneous

• Outstanding Shares: 70,120,000
• Free Float: 66,379,000
• Market Cap: $7.18 billion
• Optionable: Optionable
• Beta: 0.86