Churchill Downs (NASDAQ:CHDN) Price Target Cut to $158.00 by Analysts at Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN) had its target price cut by Wells Fargo & Company from $165.00 to $158.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also issued reports on CHDN. Truist Financial reissued a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Mizuho lowered their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com raised 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 target price on shares of Churchill Downs in a research report on Thursday, January 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Price Performance

Shares of CHDN opened at $116.92 on Friday. Churchill Downs has a 52-week low of $111.10 and a 52-week high of $150.21. 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 business’s 50 day moving average price is $126.93 and its two-hundred day moving average price is $134.58. The firm has a market cap of $8.59 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.96 and a beta of 0.95.

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

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were given 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 is presently 7.04%.

Institutional Investors Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently bought and sold shares of CHDN. Blue Trust Inc. raised its position 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 last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs in the 3rd quarter valued at $27,000. Fortitude Family Office LLC raised its position in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs in the 4th quarter valued at $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the 4th quarter valued at $55,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

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; casino gaming; and Terre Haute Casino Resort.