Mizuho Lowers Churchill Downs (NASDAQ:CHDN) Price Target to $148.00

Churchill Downs (NASDAQ:CHDNFree Report) had its target price cut by Mizuho from $151.00 to $148.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

CHDN has been the subject of several other reports. Truist Financial reissued a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Wells Fargo & Company reduced their target price on Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus target price of $160.13.

Get Our Latest Stock Analysis on Churchill Downs

Churchill Downs Trading Down 1.7 %

CHDN opened at $119.54 on Wednesday. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 3.02 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs has a 12 month low of $111.10 and a 12 month high of $150.21. The stock has a fifty day moving average price of $127.68 and a 200-day moving average price of $134.78.

Churchill Downs (NASDAQ:CHDNGet Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. As a group, equities research analysts anticipate that Churchill Downs will post 5.99 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a $0.409 dividend. The ex-dividend date was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is currently 7.47%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of 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 during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs in the third quarter valued at about $27,000. Fortitude Family Office LLC increased its holdings in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Churchill Downs in the fourth quarter valued at about $55,000. Finally, R Squared Ltd acquired a new position in shares of Churchill Downs in the fourth quarter valued at about $55,000. 82.59% of the stock is owned by institutional investors and hedge funds.

About Churchill Downs

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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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