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Churchill Downs Incorporated (NASDAQ:CHDN) stock has reached a new 52-week low, trading at $105.13, significantly below its 52-week high of $150.21. According to InvestingPro analysis, the company maintains strong fundamentals with a "GOOD" overall financial health score. This latest price point underscores a period of bearish sentiment for the renowned racing and gaming company, which has seen its shares retreat by 13.98% over the past year. Despite the recent decline, CHDN has maintained dividend payments for 51 consecutive years, demonstrating long-term stability. Analysts remain optimistic, with consensus targets suggesting potential upside, and the company continues to show revenue growth of 11.07% over the last twelve months. For deeper insights into CHDN’s valuation and growth prospects, including exclusive ProTips and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Churchill Downs Incorporated reported record net revenue and adjusted EBITDA for the fourth quarter and full-year 2024, with earnings per share (EPS) meeting analyst forecasts at $0.92. Revenue slightly exceeded expectations at $624.2 million, surpassing the forecast of $620.3 million. The company also announced a $500 million share repurchase program, replacing a previous authorization. Stifel analysts adjusted their outlook on Churchill Downs, reducing the price target to $161 from $164 while maintaining a Buy rating, citing slower-than-expected growth in certain segments. Similarly, Truist Securities lowered its price target from $165 to $162, maintaining a Buy rating following the company’s earnings report, which exceeded expectations by 2%. Churchill Downs is also undertaking significant projects for the Kentucky Derby, which are expected to double the event’s EBITDA. Additionally, Ford has extended its partnership with Churchill Downs through 2029, continuing as the exclusive automotive partner of the Kentucky Derby.
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