Speedway Motorsports, Inc. (TRK) To Go Ex-Dividend on November 9th
Speedway Motorsports, Inc. (NYSE:TRK) announced a quarterly dividend on Thursday, October 19th, Wall Street Journal reports. Investors of record on Friday, November 10th will be given a dividend of 0.15 per share on Friday, December 1st. This represents a $0.60 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, November 9th.
Speedway Motorsports has a dividend payout ratio of 61.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Speedway Motorsports to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 56.1%.
Shares of Speedway Motorsports (NYSE TRK) opened at $19.47 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $811.16, a PE ratio of 21.29, a price-to-earnings-growth ratio of 10.10 and a beta of 0.89.
Speedway Motorsports (NYSE:TRK) last released its earnings results on Wednesday, October 25th. The company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.06). Speedway Motorsports had a net margin of 7.26% and a return on equity of 4.79%. The business had revenue of $137.61 million for the quarter, compared to the consensus estimate of $141.79 million. research analysts anticipate that Speedway Motorsports will post 0.98 earnings per share for the current year.
Several equities analysts recently commented on TRK shares. Zacks Investment Research lowered shares of Speedway Motorsports from a “buy” rating to a “hold” rating in a report on Friday, September 15th. BidaskClub raised shares of Speedway Motorsports from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Finally, TheStreet lowered shares of Speedway Motorsports from a “b” rating to a “c+” rating in a report on Wednesday, October 25th.
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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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