Churchill Downs Incorporated (NASDAQ:CHDN – Get Free Report) has earned an average rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $157.11.
Several brokerages recently issued reports on CHDN. JMP Securities upped their price objective on shares of Churchill Downs from $158.00 to $166.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price target on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Macquarie increased their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Truist Financial reissued a “buy” rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a research note on Friday, July 26th. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Friday.
Check Out Our Latest Analysis on CHDN
Churchill Downs Stock Down 3.3 %
Churchill Downs (NASDAQ:CHDN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.18. Churchill Downs had a net margin of 15.61% and a return on equity of 47.53%. The company had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the prior year, the company earned $2.24 EPS. Churchill Downs’s revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Churchill Downs will post 6.11 EPS for the current fiscal year.
Hedge Funds Weigh In On Churchill Downs
Several large investors have recently made changes to their positions in CHDN. Norges Bank acquired a new position in shares of Churchill Downs in the 4th quarter worth approximately $94,137,000. Boston Partners lifted its holdings in Churchill Downs by 98.1% during the 4th quarter. Boston Partners now owns 810,564 shares of the company’s stock worth $109,347,000 after buying an additional 401,319 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Churchill Downs by 113.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 463,555 shares of the company’s stock worth $62,547,000 after buying an additional 246,769 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after buying an additional 193,914 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in Churchill Downs during the 2nd quarter worth approximately $26,384,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.
About Churchill Downs
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; and casino gaming.
Read More
- Five stocks we like better than Churchill Downs
- Using the MarketBeat Dividend Yield Calculator
- Should You Invest in Bitcoin? Pros and Cons
- What is a Special Dividend?
- Amazon Stock is Primed to Rebound Strongly After AI Bubble Bursts
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Shell Stock: Oil & Gas Giant Committed to Buybacks and Dividends
Receive News & Ratings for Churchill Downs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Churchill Downs and related companies with MarketBeat.com's FREE daily email newsletter.