Churchill Downs (NASDAQ:CHDN) Trading Down 5.7% – What’s Next?

Churchill Downs, Incorporated (NASDAQ:CHDN) was down 5.7% on Monday . The stock traded as low as $93.18 and last traded at $93.0030. Approximately 399,972 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 958,432 shares. The stock had previously closed at $98.65.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CHDN shares. Citizens Jmp boosted their price target on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a report on Friday, April 24th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Mizuho boosted their price target on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a report on Thursday, April 16th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Churchill Downs Price Performance

The company has a debt-to-equity ratio of 4.44, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.65 and a beta of 0.73. The business has a fifty day moving average price of $90.35 and a 200 day moving average price of $99.19.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.Churchill Downs’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS. As a group, research analysts anticipate that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

Institutional Investors Weigh In On Churchill Downs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP grew its position in Churchill Downs by 1.5% during the 3rd quarter. Allworth Financial LP now owns 7,549 shares of the company’s stock worth $732,000 after acquiring an additional 109 shares during the last quarter. Quadrant Capital Group LLC grew its position in Churchill Downs by 4.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock worth $254,000 after acquiring an additional 118 shares during the last quarter. Park Avenue Securities LLC grew its position in Churchill Downs by 1.1% during the 4th quarter. Park Avenue Securities LLC now owns 12,132 shares of the company’s stock worth $1,380,000 after acquiring an additional 136 shares during the last quarter. Aurora Investment Counsel grew its position in Churchill Downs by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 24,702 shares of the company’s stock worth $2,396,000 after acquiring an additional 146 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Churchill Downs by 3.6% during the 3rd quarter. Global Retirement Partners LLC now owns 4,520 shares of the company’s stock worth $438,000 after acquiring an additional 156 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.