Mizuho Cuts Churchill Downs (NASDAQ:CHDN) Price Target to $148.00

Churchill Downs (NASDAQ:CHDN) had its price target decreased by Mizuho from $151.00 to $148.00 in a research note issued to investors on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

CHDN has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $116.92 on Wednesday. The firm has a 50-day moving average of $126.93 and a 200-day moving average of $134.58. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $8.59 billion, a PE ratio of 20.58, a P/E/G ratio of 2.96 and a beta of 0.95. Churchill Downs has a 52-week low of $111.10 and a 52-week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%. On average, sell-side analysts anticipate that Churchill Downs will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a $0.409 dividend. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is currently 7.04%.

Hedge Funds Weigh In On Churchill Downs

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Churchill Downs in the 3rd quarter valued at about $27,000. Fortitude Family Office LLC grew its holdings in shares of Churchill Downs by 2,733.3% during the 4th 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 last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Churchill Downs during the 4th quarter valued at approximately $55,000. Finally, R Squared Ltd bought a new stake in shares of Churchill Downs during the 4th quarter valued at approximately $55,000. 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.