Investment Analysts’ Weekly Ratings Changes for Churchill Downs (CHDN)

Several brokerages have updated their recommendations and price targets on shares of Churchill Downs (NASDAQ: CHDN) in the last few weeks:

• 10/25/2024 – Churchill Downs was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/25/2024 – Churchill Downs had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $165.00 price target on the stock, down previously from $166.00.
• 10/22/2024 – Churchill Downs had its price target lowered by analysts at Mizuho from $157.00 to $151.00. They now have an “outperform” rating on the stock.
• 10/17/2024 – Churchill Downs had its price target raised by analysts at Wells Fargo & Company from $161.00 to $168.00. They now have an “overweight” rating on the stock.
• 10/14/2024 – Churchill Downs had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $166.00 price target on the stock.

Churchill Downs Price Performance

Shares of CHDN traded up $10.29 during trading hours on Wednesday, reaching $147.45. 1,052,920 shares of the company’s stock traded hands, compared to its average volume of 435,376. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The stock has a market cap of $10.84 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.83 and a beta of 0.96. The firm’s 50 day simple moving average is $138.26 and its 200-day simple moving average is $136.94.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 EPS. Equities analysts expect that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.409 dividend. This represents a dividend yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. Churchill Downs’s payout ratio is presently 6.92%.

Institutional Trading of Churchill Downs

Several institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC purchased a new position in Churchill Downs in the 2nd quarter worth approximately $125,418,000. Assenagon Asset Management S.A. raised its holdings in Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock valued at $27,338,000 after buying an additional 193,914 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Churchill Downs during the 2nd quarter valued at $26,384,000. Capital International Investors increased its position in shares of Churchill Downs by 7.5% in the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after acquiring an additional 177,900 shares during the period. Finally, Artemis Investment Management LLP raised its stake in shares of Churchill Downs by 60.1% during the second quarter. Artemis Investment Management LLP now owns 347,074 shares of the company’s stock valued at $48,452,000 after acquiring an additional 130,331 shares during the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

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.