Churchill Downs (NASDAQ:CHDN) Reaches New 1-Year Low at $174.13

Posted by on Jun 18th, 2022

Churchill Downs Incorporated (NASDAQ:CHDN – Get Rating) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $174.13 and last traded at $174.57, with a volume of 4263 shares. The stock had previously closed at $185.74.

Several research analysts recently issued reports on CHDN shares. KeyCorp increased their price target on shares of Churchill Downs from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, February 28th. StockNews.com assumed coverage on shares of Churchill Downs in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Company dropped their target price on shares of Churchill Downs from $272.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, April 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $272.29.

The firm’s 50-day moving average price is $198.84 and its 200 day moving average price is $213.93. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.29 and a beta of 1.13. The company has a debt-to-equity ratio of 6.17, a current ratio of 1.20 and a quick ratio of 1.20.

Churchill Downs (NASDAQ:CHDN – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.13 by $0.05. Churchill Downs had a net margin of 15.58% and a return on equity of 87.26%. The business had revenue of $364.10 million for the quarter, compared to analyst estimates of $345.02 million. During the same period in the prior year, the business earned $0.87 earnings per share. On average, analysts predict that Churchill Downs Incorporated will post 8.22 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in CHDN. Marshall Wace North America L.P. boosted its position in Churchill Downs by 200.0% during the first quarter. Marshall Wace North America L.P. now owns 780 shares of the company’s stock worth $70,000 after acquiring an additional 520 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Churchill Downs by 290.7% in the 1st quarter. First Trust Advisors LP now owns 16,361 shares of the company’s stock valued at $1,477,000 after purchasing an additional 12,173 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Churchill Downs by 19.6% in the 3rd quarter. HighTower Advisors LLC now owns 1,931 shares of the company’s stock valued at $462,000 after purchasing an additional 316 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Churchill Downs by 6.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 161,148 shares of the company’s stock valued at $38,688,000 after purchasing an additional 10,288 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Churchill Downs in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Churchill Downs Company Profile (NASDAQ:CHDN)

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. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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