Churchill Downs Incorporated (NASDAQ:CHDN) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $143.13.

A number of equities research analysts recently commented on CHDN shares. Mizuho started coverage on shares of Churchill Downs in a research report on Tuesday, March 26th. They set a “buy” rating and a $142.00 target price for the company. JMP Securities reissued a “market outperform” rating and set a $150.00 target price on shares of Churchill Downs in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $137.00 to $141.00 in a research report on Monday, April 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHDN. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Churchill Downs by 16.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,489 shares of the company’s stock worth $996,000 after buying an additional 631 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Churchill Downs by 78.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 684 shares of the company’s stock worth $152,000 after purchasing an additional 300 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Churchill Downs by 24.8% during the first quarter. Citigroup Inc. now owns 21,849 shares of the company’s stock worth $4,845,000 after purchasing an additional 4,345 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Churchill Downs by 2.2% during the first quarter. BlackRock Inc. now owns 3,380,964 shares of the company’s stock worth $749,830,000 after purchasing an additional 73,505 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Churchill Downs by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 19,258 shares of the company’s stock worth $4,389,000 after purchasing an additional 1,467 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.3 %

NASDAQ:CHDN opened at $118.96 on Friday. Churchill Downs has a 52 week low of $106.45 and a 52 week high of $150.45. The firm has a 50 day moving average of $119.49 and a 200 day moving average of $120.31. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.34. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 8.43 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, February 21st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.18. Churchill Downs had a net margin of 16.95% and a return on equity of 45.43%. The company had revenue of $561.20 million during the quarter, compared to analysts’ expectations of $553.05 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. Churchill Downs’s revenue for the quarter was up 16.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Churchill Downs will post 5.48 earnings per share for the current fiscal year.

Churchill Downs Company Profile

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; and casino gaming.