Churchill Downs (NASDAQ:CHDN) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Churchill Downs (NASDAQ:CHDN) in a research note published on Thursday morning,Benzinga reports. JMP Securities currently has a $166.00 target price on the stock.

Several other analysts have also recently commented on the stock. Mizuho dropped their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, 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 note on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Trading Down 0.4 %

Shares of CHDN opened at $132.23 on Thursday. The stock’s fifty day simple moving average is $139.35 and its 200-day simple moving average is $138.52. The firm has a market capitalization of $9.72 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95. Churchill Downs has a 12-month low of $111.10 and a 12-month high of $150.21. 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 released its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same period in the prior year, the company posted $0.87 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Churchill Downs will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.409 dividend. This represents a dividend yield of 0.29%. The ex-dividend date is Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.29%.

Institutional Investors Weigh In On Churchill Downs

Institutional investors have recently added to or reduced their stakes in the stock. Winslow Asset Management Inc. raised its stake in shares of Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after purchasing an additional 90 shares during the period. Venturi Wealth Management LLC lifted its stake in Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after acquiring an additional 90 shares in the last quarter. Commerce Bank boosted its position in Churchill Downs by 1.8% during the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after acquiring an additional 90 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Churchill Downs by 1.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after acquiring an additional 105 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Churchill Downs by 0.6% in the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock valued at $2,592,000 after purchasing an additional 114 shares during the last quarter. 82.59% of the stock is 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.