Churchill Downs Incorporated (NASDAQ:CHDN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have earned an average rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $157.11.

Several brokerages recently issued reports on CHDN. Mizuho upped their price objective on shares of Churchill Downs from $143.00 to $157.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Friday. Macquarie lifted their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JMP Securities upped their target price on Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

Hedge Funds Weigh In On Churchill Downs

A number of hedge funds have recently modified their holdings of the business. Consolidated Planning Corp lifted its position in Churchill Downs by 53.0% in the second quarter. Consolidated Planning Corp now owns 4,154 shares of the company’s stock valued at $580,000 after buying an additional 1,439 shares during the last quarter. Fortis Capital Advisors LLC purchased a new stake in shares of Churchill Downs in the 2nd quarter valued at approximately $587,000. CIBC Asset Management Inc lifted its holdings in shares of Churchill Downs by 11.9% in the 2nd quarter. CIBC Asset Management Inc now owns 2,066 shares of the company’s stock worth $288,000 after acquiring an additional 220 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Churchill Downs by 103.5% in the 2nd quarter. Natixis Advisors LLC now owns 108,273 shares of the company’s stock worth $15,115,000 after acquiring an additional 55,064 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Churchill Downs by 7.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,204 shares of the company’s stock worth $308,000 after purchasing an additional 162 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 3.3 %

Shares of CHDN opened at $135.36 on Monday. The stock has a 50 day moving average price of $138.15 and a 200 day moving average price of $128.75. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.34 and a beta of 0.97. Churchill Downs has a one year low of $106.45 and a one year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. The business had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.24 earnings per share. Equities research analysts forecast that Churchill Downs will post 6.11 earnings per share for the current fiscal year.

About Churchill Downs

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.