Stifel Nicolaus Cuts Churchill Downs (NASDAQ:CHDN) Price Target to $142.00

Churchill Downs (NASDAQ:CHDN) had its price objective trimmed by Stifel Nicolaus from $161.00 to $142.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on CHDN. StockNews.com downgraded Churchill Downs from a “hold” rating to a “sell” rating in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Mizuho decreased their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.44.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $102.51 on Thursday. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs has a 1-year low of $96.67 and a 1-year high of $150.21. The firm’s fifty day moving average price is $112.92 and its 200 day moving average price is $127.55.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, sell-side analysts expect that Churchill Downs will post 6.92 EPS for the current year.

Churchill Downs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Churchill Downs’s dividend payout ratio is presently 7.04%.

Churchill Downs declared that its board has authorized a stock buyback plan on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Churchill Downs

Several institutional investors and hedge funds have recently modified their holdings of CHDN. Blue Trust Inc. raised its position in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs in the third quarter worth $27,000. Fortitude Family Office LLC lifted its position in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 246 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Churchill Downs by 159.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 412 shares of the company’s stock valued at $46,000 after acquiring an additional 253 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Churchill Downs by 39.6% during the first quarter. Central Pacific Bank Trust Division now owns 455 shares of the company’s stock valued at $51,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

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.