Brokerages Expect Speedway Motorsports, Inc. (TRK) to Announce $0.00 EPS
Shares of Speedway Motorsports, Inc. (NYSE:TRK) have been assigned an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Analysts have set a 1-year consensus target price of $19.25 for the company, according to Zacks. Zacks has also given Speedway Motorsports an industry rank of 159 out of 265 based on the ratings given to related companies.
Several research firms have recently weighed in on TRK. Zacks Investment Research downgraded Speedway Motorsports from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. TheStreet downgraded Speedway Motorsports from a “b” rating to a “c+” rating in a research note on Wednesday, October 25th. Finally, BidaskClub upgraded Speedway Motorsports from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd.
Shares of Speedway Motorsports (TRK) traded down $0.15 during trading hours on Tuesday, hitting $19.78. 6,853 shares of the company were exchanged, compared to its average volume of 44,059. The firm has a market cap of $790.27, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 9.84 and a beta of 0.89. The company has a quick ratio of 1.33, a current ratio of 1.42 and a debt-to-equity ratio of 0.28. Speedway Motorsports has a 1-year low of $16.80 and a 1-year high of $23.47.
Speedway Motorsports (NYSE:TRK) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). The business had revenue of $137.61 million during the quarter, compared to the consensus estimate of $141.79 million. Speedway Motorsports had a net margin of 7.26% and a return on equity of 4.79%. equities analysts anticipate that Speedway Motorsports will post 0.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a $0.15 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.60 annualized dividend and a yield of 3.03%. Speedway Motorsports’s dividend payout ratio is currently 70.59%.
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A number of hedge funds and other institutional investors have recently modified their holdings of TRK. Bank of New York Mellon Corp boosted its stake in Speedway Motorsports by 3.7% in the 1st quarter. Bank of New York Mellon Corp now owns 209,251 shares of the company’s stock worth $3,942,000 after purchasing an additional 7,454 shares during the period. American International Group Inc. boosted its stake in Speedway Motorsports by 7.4% in the 1st quarter. American International Group Inc. now owns 7,255 shares of the company’s stock worth $137,000 after purchasing an additional 498 shares during the period. Vanguard Group Inc. boosted its stake in Speedway Motorsports by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 973,947 shares of the company’s stock worth $18,349,000 after purchasing an additional 37,153 shares during the period. Geode Capital Management LLC boosted its stake in Speedway Motorsports by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 98,045 shares of the company’s stock worth $1,847,000 after purchasing an additional 3,270 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Speedway Motorsports by 5.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 44,140 shares of the company’s stock worth $832,000 after purchasing an additional 2,223 shares during the period. Institutional investors and hedge funds own 21.73% of the company’s stock.
About Speedway Motorsports
Speedway Motorsports, Inc (SMI), through its operating subsidiaries, is a promoter, marketer and sponsor of motorsports activities in the United States. The Company’s operations consist of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various speedway facilities located in the United States.
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