Churchill Downs (NASDAQ:CHDN) Downgraded by StockNews.com

StockNews.com lowered shares of Churchill Downs (NASDAQ:CHDN) from a hold rating to a sell rating in a research report released on Friday.

CHDN has been the subject of several other research reports. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. Wells Fargo & Company upped their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Mizuho dropped their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial reissued a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday. Finally, Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $155.00 in a report on Monday, August 12th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Price Performance

Shares of CHDN opened at $140.25 on Friday. The firm has a fifty day simple moving average of $137.81 and a two-hundred day simple moving average of $136.01. The firm has a market cap of $10.31 billion, a PE ratio of 31.24, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs has a 1-year low of $106.45 and a 1-year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. Churchill Downs’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Churchill Downs will post 6.13 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.409 per share. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is presently 8.91%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Kimelman & Baird LLC bought a new stake in Churchill Downs during the second quarter valued at about $42,000. Central Pacific Bank Trust Division bought a new stake in Churchill Downs during the 1st quarter valued at approximately $44,000. CWM LLC raised its stake in Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the period. UMB Bank n.a. lifted its holdings in Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after purchasing an additional 255 shares in the last quarter. Finally, Bank & Trust Co bought a new position in Churchill Downs in the 2nd quarter worth approximately $84,000. Institutional investors own 82.59% of the company’s stock.

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; casino gaming; and Terre Haute Casino Resort.