Barclays Begins Coverage on Churchill Downs (NASDAQ:CHDN)

Barclays started coverage on shares of Churchill Downs (NASDAQ:CHDN) in a research note released on Friday morning, MarketBeat reports. The brokerage issued an overweight rating and a $125.00 target price on the stock.

Several other research analysts have also commented on CHDN. StockNews.com lowered Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Stifel Nicolaus dropped their price target on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday. Mizuho reduced their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.44.

Churchill Downs Stock Up 0.1 %

CHDN stock opened at $102.51 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The firm has a 50-day moving average of $112.92 and a two-hundred day moving average of $127.55. Churchill Downs has a 12 month low of $96.67 and a 12 month high of $150.21. The company has a market cap of $7.53 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN) last posted 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). The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, analysts forecast that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs declared that its board has approved a share repurchase program on Wednesday, March 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Churchill Downs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.04%.

Institutional Investors Weigh In On Churchill Downs

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Churchill Downs during the third quarter worth about $27,000. Fortitude Family Office LLC boosted its stake 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. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Churchill Downs by 159.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock valued at $46,000 after purchasing an additional 253 shares during the period. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Churchill Downs by 39.6% in the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock valued at $51,000 after purchasing an additional 129 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

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.