Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Average Rating of “Moderate Buy” from Analysts
by Kim Johansen · The Markets DailyShares of Churchill Downs, Incorporated (NASDAQ:CHDN – Get Free Report) have earned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $135.00.
A number of brokerages have recently weighed in on CHDN. Wells Fargo & Company lowered their target price on Churchill Downs from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Citizens Jmp boosted their target price on shares of Churchill Downs from $142.00 to $146.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 14th. Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th.
Get Our Latest Stock Analysis on CHDN
Hedge Funds Weigh In On Churchill Downs
Several hedge funds have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $25,000. First Horizon Corp acquired a new stake in shares of Churchill Downs during the 3rd quarter worth approximately $26,000. Quent Capital LLC bought a new position in Churchill Downs in the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. increased its stake in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after acquiring an additional 232 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Churchill Downs by 1,670.6% during the third quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after purchasing an additional 284 shares in the last quarter. 82.59% of the stock is owned by institutional investors.
Churchill Downs Stock Performance
Shares of CHDN stock opened at $84.52 on Friday. Churchill Downs has a 52 week low of $80.24 and a 52 week high of $118.46. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.45 and a beta of 0.65. The company has a 50-day simple moving average of $92.25 and a 200 day simple moving average of $99.57. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.60 and a current ratio of 0.60.
Churchill Downs (NASDAQ:CHDN – Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.12. Churchill Downs had a net margin of 13.09% and a return on equity of 43.26%. The firm had revenue of $665.90 million for the quarter, compared to analysts’ expectations of $658.01 million. During the same period in the prior year, the firm earned $0.92 EPS. The business’s revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that Churchill Downs will post 6.92 earnings per share for the current year.
About Churchill Downs
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.