Churchill Downs (NASDAQ:CHDN) Given New $158.00 Price Target at Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN) had its price target decreased by Wells Fargo & Company from $165.00 to $158.00 in a report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on CHDN. Mizuho decreased their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial reissued a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, JMP Securities reissued a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Price Performance

Shares of CHDN opened at $116.92 on Friday. The stock has a market capitalization of $8.59 billion, a P/E ratio of 20.58, a P/E/G ratio of 2.96 and a beta of 0.95. Churchill Downs has a twelve month low of $111.10 and a twelve month high of $150.21. The company has a 50 day moving average of $126.93 and a 200-day moving average of $134.58. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The business had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%. As a group, equities research analysts forecast that Churchill Downs will post 6.92 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a dividend of $0.409 per share. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs’s payout ratio is 7.04%.

Institutional Trading of Churchill Downs

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Churchill Downs during the third quarter worth about $27,000. Fortitude Family Office LLC grew its holdings in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 246 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Churchill Downs in the fourth quarter valued at approximately $55,000. Finally, R Squared Ltd bought a new stake in Churchill Downs in the fourth quarter valued at approximately $55,000. 82.59% of the stock is currently owned by institutional investors.

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.