Churchill Downs (NASDAQ:CHDN) Price Target Raised to $146.00

Churchill Downs (NASDAQ:CHDN) had its target price lifted by Citizens Jmp from $142.00 to $146.00 in a report released on Wednesday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Macquarie reiterated an “outperform” rating and set a $155.00 price target on shares of Churchill Downs in a research report on Friday, October 24th. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a research report on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a research report on Wednesday, December 24th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $125.00 price target (up from $115.00) on shares of Churchill Downs in a research note on Monday, January 5th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.36.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $106.88 on Wednesday. The stock has a fifty day moving average of $110.07 and a 200 day moving average of $103.96. Churchill Downs has a 52 week low of $85.58 and a 52 week high of $128.01. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.62 and a beta of 0.68. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.87.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. The business had revenue of $683.00 million for the quarter, compared to the consensus estimate of $671.43 million. During the same period in the previous year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts expect that Churchill Downs will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were issued a $0.438 dividend. This represents a yield of 39.0%. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date of this dividend was Friday, December 5th. Churchill Downs’s dividend payout ratio is presently 8.00%.

Hedge Funds Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC bought a new position in Churchill Downs in the 3rd quarter worth about $25,000. First Horizon Corp purchased a new position in Churchill Downs in the third quarter worth about $26,000. Quent Capital LLC bought a new position in shares of Churchill Downs in the third quarter worth approximately $27,000. Geneos Wealth Management Inc. lifted its stake in shares of Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Churchill Downs by 1,670.6% during the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after buying an additional 284 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Company Profile

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.