Churchill Downs, Inc. (NASDAQ:CHDN) Given Consensus Rating of “Hold” by Brokerages

Churchill Downs, Inc. (NASDAQ:CHDN) has received a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $132.50.

CHDN has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Churchill Downs from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group increased their price objective on shares of Churchill Downs from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. They noted that the move was a valuation call. Susquehanna Bancshares started coverage on shares of Churchill Downs in a research note on Wednesday, July 24th. They issued a “positive” rating and a $140.00 price objective on the stock. Telsey Advisory Group raised their price target on shares of Churchill Downs from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, July 1st. Finally, ValuEngine lowered shares of Churchill Downs from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th.

Shares of NASDAQ:CHDN traded down $0.33 during midday trading on Thursday, reaching $123.77. The company’s stock had a trading volume of 7,927 shares, compared to its average volume of 201,472. The firm has a market capitalization of $4.94 billion, a PE ratio of 33.99, a P/E/G ratio of 1.44 and a beta of 1.20. Churchill Downs has a twelve month low of $74.58 and a twelve month high of $132.73. The stock has a fifty day moving average of $121.86 and a 200 day moving average of $106.46. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.66.



Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.01). The business had revenue of $477.40 million during the quarter, compared to analyst estimates of $469.85 million. Churchill Downs had a return on equity of 34.23% and a net margin of 15.76%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.71 EPS. Sell-side analysts anticipate that Churchill Downs will post 4.29 earnings per share for the current fiscal year.

In related news, SVP Austin W. Miller sold 5,900 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $117.31, for a total transaction of $692,129.00. Following the sale, the senior vice president now owns 40,494 shares in the company, valued at $4,750,351.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.05% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CHDN. Geode Capital Management LLC grew its position in Churchill Downs by 12.2% during the fourth quarter. Geode Capital Management LLC now owns 150,430 shares of the company’s stock valued at $36,695,000 after buying an additional 16,314 shares during the period. Bank of Montreal Can grew its position in Churchill Downs by 110.8% during the first quarter. Bank of Montreal Can now owns 1,031 shares of the company’s stock valued at $93,000 after buying an additional 542 shares during the period. Comerica Bank grew its position in Churchill Downs by 192.5% during the first quarter. Comerica Bank now owns 16,144 shares of the company’s stock valued at $1,482,000 after buying an additional 10,625 shares during the period. State Board of Administration of Florida Retirement System grew its position in Churchill Downs by 250.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,393 shares of the company’s stock valued at $1,931,000 after buying an additional 15,293 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Churchill Downs by 306.8% during the first quarter. California Public Employees Retirement System now owns 55,505 shares of the company’s stock valued at $5,010,000 after purchasing an additional 41,861 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 12 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 14 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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